We would love to hear your thoughts about our site and services, please take our survey here.
I remember that too. He was very firm/insistent about it! Interesting...
A biggish drop on relatively small volume and a new set of Wombles on the BB... News due in the not-too-distant?
Counter-intuitively I see it as a positive... Smacks of pure desperation and/or a cynical attempt to "recoup"/cream off some of the money being offered to AST – i.e. the settlement is pretty much a done-deal. Realise it's more hassle that AST don't need but I feel like a positive outcome isn't far off now.
...Only it's Columbia not Colombia, so Threadneedle Street not Chapinero. Intriguing nevertheless.
Must admit I thought it was a bit odd too...
As you said in the aftermath, Sareum are not known for meeting deadlines - good or bad. Pure guesswork, but I wondered if (a) they wanted to get any potentially bad news out of the way before the good – in that the last thing they want to do is spike the share price only to crash it soon after; especially if they're keen to generate positive momentum; (b) it's a form of housekeeping, before the "inevitable" take-over; or (c) most cynically, it's a form of house-clearing that has allowed a suitor to accumulate at a lower price before a pre-packaged– hopefully much higher – take-over. Or (d) I've been listening to too much David Icke during lockdown and my synapses are overloaded.
I'm getting dancing girls on mine. Can't imagine why...
WTF?
And can't believe they're using the gipsies in their arguments!
Honestly? I don't think it would bother me overly. The plans are all sensitive to the local area.
Bet all of these middle class ****s drive 4-by-4s too.
My God, she's reading them the riot act at the moment!
Absolutely agree. It’s just unfortunate that the original investors won’t be the ones who profit the most from the proceeds of any successful compensation claim.
Always thought SRRA had naughtily used that bit of the clause to keep moving the trials on without having to honour the milestone payment. So guessing that the grubby deal was to accept the lower payment but eliminate SRRA's ability to continue playing silly buggers... Well here's hoping at least!
I agree the wording of the RNS is poor. And while P1 trials have already happened as Elcap says, my reading of it is that it seems to suggest the payment is due on the NEXT trials after the revised agreement (i.e. whatever happened prior to it doesn't count)?
The situation at HH looks pretty bleak right now with the declining production figures and increasing water cut from the Portland, and the absence of any news on the Kimmeridge.
And yet SS must have been aware of any problems – current or potential/future – as he was increasing UKOG's percentage of the licence, and buying up equipment. In addition to that, Alba continue to hold on to their stake, presuming that their perspective hasn't materially changed from their comment in their March RNS that they are "open to either retaining our stake in the Project through to permanent commercial production, when HHDL should generate material oil sales revenues, or to giving serious consideration to any third-party offer received prior to production which properly reflects the value of our stake."
So what to make of it all? Is SS a reckless gambler, drunk on his own hubristic dreams and locked in his own Weald basin echo chamber – too far gone to row back, and too proud or too pompous to admit he was wrong, and risk his reputation and record? Or is he aware of something that the humble PI is not – perhaps waiting to show his hand until UKOG have possession of the whole licence?
As for Alba, they don't really need the HH licence any more, and if it's as bad as it looks right now, why wouldn't they just get out? Are they playing a wait-and-see game – presuming the worst but hoping for the best (as implied in their August half-year statement) – or still playing hardball with SS, waiting for him to let a cat out of the bag and pay a premium for their stake (as per the March RNS)? On top of that if the Kimmeridge is really a busted flush, why have Angus recently upped their stake in Brockham? Is it really just to help out an old Australian friend, and/or an accounting trick, or do they still see value, or potential value, there?
Things definitely don’t look very positive at the moment – hence the share price – and the downbeat tone on the BB, but I’m still trying to understand the logic and strategy at play if HH and/or the Kimmeridge play are dead ducks.
1) He’s yet another AIM “lifestyle” director
2) He’s a hubristic AIM director who’s over-reached and is gambling in last-chance saloon
3) He’s a well-intentioned but incompetent AIM director
4) He’s a (highly) competent but unusually unlucky AIM director
5) He’s a (highly) competent AIM director who knows his Sun Tzu, and still has cards to play
That's fair... Hammy you've missed the "bargain bin" phase, but SAR is definitely still in the sale aisle at the moment. There are numerous bits of price-positive news that could land at any minute, and the grant funding takes a bit of pressure off the company in the short-term. Good luck with whatever you decide.
If you want advice like that the LSE bulletin boards are a dangerous place to hang out!
Hahaha - that's a good observation. A few of the LTH with deeper pockets – esp Thoth – may need strong stomachs intra-day over the next 3–6 months. Even though I have a much more modest holding, I'm not sure I can take many more rollercoaster days like the one we had today. At least, as they say, it wasn't boring...
So it looks like we’re in play...
I've averaged down a bit so think I need 17p or so... Small beer though and I feel so sad for some of the LTH with deeper pockets. Crazy to think the govt might just turn around an approve the permits after all this time. Could it really happen?!?