The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Looking at the daily chart and volume traded prior to recovery- has all the tells of a classic tree shake
Could be the mother of all tree shakes?
Also note the update on backgassing ‘going to plan’, that means an RNS either later today or Monday for first gas. First gas for Southwark pegged for Q3.
Thanks Sailor- sounds like the contractors I have working at my house
- contractors vans at the house so I assume they’re working
- they’re on site but I don’t see much movement
- site welfare unit always occupied MUCH dumping occurring
- messaging info and dates when things will happen ( but never does)
Ironically, my builders have done nothing BUT back gas since they arrived on site.
Lastly- anyone else’s heart sink when they saw an RNS released at 4pm on a Friday…..first thought that came to mind….FFS what now!!!! Very pleased to see the content - a first for an RNS this late on a Friday.
Also interesting to note the share started moving on announcement- not such a leaky ship which is another positive ( this time!!)
Excellent- what I really want to see next week prior to first gas, is confirmation of a new off take agreement with BP ( or others!). That should provide a momentum for the price ?
To the IOG Board- thank you for deciding to end the Gazprom off take with immediate effect. This action makes clear that we stand with Ukraine and honour the huge sacrifices they make. I can’t contemplate the horror experienced by the Ukrainian people, but at the very least, I am reassured that not a single penny of my IOG investment contributes towards a Russian state sponsored invasion. Slavi Ukraini!!
The management should act now to award gas off takes to others rather than be reactive and await sanctions on Gazprom. Potentially it could’ve a legal minefield, but if Shell and BP can do it, then time to step up and lead. Time to make the decision and justify those share options.
Citadel Advisors reduced their short 0.1% yesterday- not a lot, but interesting to note.
Entry to the FTSE 250 next month….but has to be a FTSE 100 candidate in the next 2 years at least?
On review- I should have said that I’m only wary about Chariot because of the 50% hike in share price. Any share in this game and at their stage gaining 50% usually translates to a sell off? But I haven’t been following Chariot so will take a look and research. Thanks Steps for the heads up.
Likewise, Level 2 showed folk were shy to sell and plenty to buy at the open. I’d be a bit wary about Chariot though, perhaps an opportune moment to topslice. FairPlay to anybody who benefited though.
I’m just glad the 45m emergency vent wasn’t affected during that storm!! I’ll take a delay on first gas over that anyday!
Worth noting that sub sea connections have been completed safely for this hub, hence further de risking the project.
Level 2 very heavy on the buying side ( 7:1)
HL shows bid at 29.5 but dummy trades generate 30….. could be an interesting trading day.
DYOR _ good luck
Alligator- I’d be wary of ‘market specialists’, I dont think any body with hand on heart can call it accurately. My hunch is that it’s more to do with profit taking causing the fall as the price hit the historic high of around 33-34p. The good news is that the price appears to be consolidating and this should spur others to buy in when they realise it isn’t going lower ( touch wood!). If the price of the share breaks the 33p resistance then I think it will make for an interesting trading week.
Thanks Jemand- what a fascinating mess the situation is. It’s interesting to note they mention 2023 for the hearing with I presume a date in 2022 being rather too optimistic. Will it however determine if they keep holding IOG or not? If the share price is between 30-40p on first gas ( willingly!), then I would say they would be tempted to offload- but this would take time to negotiate with a third party…or if the administrative process really is going to take years, then they can off load at their leisure ha ha. I know which option would be best for us shareholders!
BB- it’s a tricky one, it really is. Cenkos Securities are advising Smith & Williamson, I would imagine they will push the case to hold on, but again it depends if they then get a successful extension through the court. If it’s one thing learned from investing…..there’s no ‘sure’ thing!
Jemand- IMHO, I don’t know if they will have no issues getting another extension. Picking through what’s left of LCF & LOG, the only asset that seems to be worth holding onto are the IOG shares. Given that the the majority of their representative clientele are getting bailed out by the FSCA, and if they manage to offload for over 30p a share, the only reason to stay in is to line their own pockets and evidently pay CGT. This is hardly in the interests of the clientele which is their primary task ( though in a twisted way, it’s good for the taxpayer). Either way, they can’t hold onto the shares in perpetuity - something has to give sooner or later.