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Market Makers feasting away after the close
Huge buys
Its gonna blow when completions start rolling in
Azule Government consents must be around the corner if they are to stick to an esimated closing of mid December - Remember the Paul McDade statement in the webcast at 17.35
"So thats why we're being a bit cautious in just saying we'll get these done by year end but we're HIGHLY CONFIDENT we will get both these deals done by year end"
https://www.youtube.com/watch?v=prWlORQGlTo
Here's the thing, don't care when exactly Azule will come, it will come as Sonagol, the largest and hardest one to get governmental approval, has been approved and marching towards closing. INA already closed. Will have 18% closed before Christmas! and 12% probably also before Christmas and if not, then soon after,
This is a steal below 30pence! Brent $closing back on $85!
Shorters were blown up on Glencore completely and that was when commodity market was down seriously. Anyone shorting here with an expanding order backlog is really ballsy, at Brent $82
$82.44
Few tweets on twitter covering bonds and covenants they are ok
Page 20
https://www.petrofac.com/media/i4khgz50/hy23-group-accounts_final.pdf
Would be nice to see news land this week on the Azule Deal
Https://www.malcysblog.com/2023/11/oil-price-genel-afentra-uog-and-finally/
I haven't seen him put target prices on before this is extremely positive
"Afentra has risen by around 10% this morning but in my view remains one of the most attractive stocks in the sector. These transformative deals when completed will massively boost the value of the company something that has already happened as during the wait for approvals the production and the fiscal terms have only got better.
The best is without doubt yet to come from Afentra and with more activity on the acquisition front I am happy to have a conservative Target Price of 100p on the shares."
Https://www.lexlink.eu/legislacao/angola/14793/ia-serie/por-tipo-de-documentolegal
There were some Azule approvals on other blocks published in Diario Republica only this morning, dated Tuesday. Its clear ANPG are going through their approvals
AZULE GOVERNMENT CONSENTS ARE CLOSE I BELIEVE
Not the reverse we wanted but directors were buying above 30 so happy enough to be patient!
Day. Need Azule to come in dont we , to wake us up
There's probably discovered oil that simply needs to be re-drilled and tapped in
At $75 is makes $50m FCF on these assets. DOn't ask me what it made in April 2022 to December 2022 (average brent 100) and Year to Date 2023 average Brent about $85
Penny seems to be dropping
Mcdade bought a massive chunk of shares on the open market when he bought Mr Mikail Kroupeev's shares
Don't sell to the Directors! :-)