With the oil price where it's at, small oilers like caza are being punished because margins are under great pressure and indebtedness is high. This is a great shame because this company was looking so good last summer. It also has some great resources and is producing oil. That is more than you can say for many oilers on AIM. Could be a good recovery stock when the oil price recovers so long as it can keep going. But not yet IMO.
Don't like the look of that.
So would those that took part in any placing know in advance about the earnings enhancing acquisition? Who would tell them? Seems the dice are a bit loaded IMO. I mean, is that legal? I wouldn't be looking to buy here if that is how they conduct their affairs for shareholders.
Some hope perhaps http://www.bloomberg.com/news/2015-01-06/saudis-raise-price-of-main-oil-grade-for-asian-buyers.html?hootPostID=bf25e9b708c183b9d928e1346ef8a33b
It's available at the top of the page, mate, but here you go: http://www.lse.co.uk/share-regulatory-news.asp?shareprice=CAZA&ArticleCode=ebrigur6&ArticleHeadline=Bone_Spring_Operational_Update
Do your research. The company discussed the oil price and their hedging operations in their recent presentation.
Perhaps http://on.ft.com/1yyfTAN
So many today :(
Ffs, when is this going to stop.
Nice one degsie, definitely worth a listen. Caza has obviously caught the eye of those that understand oil companies.
Zooter, I'm sure the stagnation was due to the overhang of shares being sold into the market by the Venture Cap guys (plus the recent falls due to the oil price issue). Only 51% (I recall) of the shares were placed into the free market at IPO. The rest were retained and could only be sold 12months after listing. That started in the summer. Over 200 million shares would take quite a while to sell if you didn't want the sp to plummet.
They have a nice business and with new vessels/high utilisation rates they are growing very nicely whilst generating cash and now paying a div. The problem is the large overhang (50% of share cap) of shares that the venture cap guys were able (and wanting ) to sell starting 12 months after the IPO. This is mentioned in the floatation document on the company's website. I am sure this is what has held the sp back for so long. Does anyone know how much has been sold of this huge holding? Will the company have to RNS it? I would certainly buy in if this was made clear, especially at this excellent price. Until then, I will continue to monitor.
Makes high margin resources more valuable and attractive to others! There! I've been desperately trying to think of something to cheer us all up! Have a good w/e :)
At 10p. Gulp.
Agreed Russky. Orchy (I think) has posted about a derivative arrangement with YA that makes it in their interests to keep the price below 13p until 31 Dec. you may well be correct.
The oil price will self-regulate eventually according to demand in the world economy. Low margin production will stop and the price will stabilise. Good job we have such good margins here.
It's not your strong opinion that I dislike, RSRS, it's the manner in which you express it. After looking carefully at the breadth of the companies you post on (one), the time you've been here, and after searching my conscience, I have decided to do something I have never done before on these boards, and that's to filter you. I also wonder if your slip up concerning the difference between 10p and 10c gives us a clue. Bye.