Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
Surfit,
I with an associate are more than 1% of the company as I mentioned earlier. Carrot, how many shares do you have btw? Might be good to organise a meeting.
Mogger, care to join?
Anyone else with more than 200-250k shares?
I believe we need to take action to protect shareholder value otherwise one fine day we will wake up to Moody and Stewart having sold Sea Lion for a pittance and with us hearing the same arguments - we got a good offer and cash is king. All of this to protect their salaries, of course. We need to be active. Current management and BOD have shown themselves to be totally incompetent in protecting shareholder interests. I don't trust management who say one day how important Egypt is and sell it without explanation the next day, for a pittance with us hearing only cliches from the company.
Let's get together!
Surfit, myself and an associate control 1% of the shares of the company and we are accumulating.
Anyone with enough shares to make a difference should participate. In my opinion, the company is mismanaged and management is incompetent. They sold the Egypt assets in a hurry at a lower price than they bought it at without asking for alternate bids and making the news public. In a private conversation Stewart McDonald spoke in cliches, just kept on mentioning "we wanted to be discrete" and "cash is king". As to why the discretion was so important was never mentioned. Neither was it mentioned why cash is king just now and not earlier when Moody wasted literally hundreds of millions of dollars.
Furthermore, it pains me to see a 13 person company sitting in London in prime real estate not doing much (but who Moody said in the AGM - "punches above their weight"). punches what - maybe air. This lot is prepping the company to be bought on the cheap a la FOGL (Bushell got a board seat at RKH). A full board and an employee heavy company with no operating assets sitting on their asses in prime London real estate.
Let's take them out!
Mogger, I have always maintained that it was either firstly, share price manipulation by the pump and dump crowd, or secondly, insider trading. Given the way the trades have come through and how many times this has happened in this particular share, I believe it to be the first rather than the second. Hence, I said that I believed insider trading to be a distant second possibility.
However, as external observers who can't see trades data, we can't be sure if it was either of the above or none. But given the haste in which shares were accumulated, when I first pointed this out, it doesn't seem like an institutional investor or even a rich but stupid individual investor. Hence, my allegations.
fecm, is the 1st of May a week or so ago?
This interview was published more than two and half months ago post annual results and has got nothing to do with the recent trading update. Trying to conflate the two is a serious attempt to misdirect market participants. Desist! you and your mate
My trading theory was that someone was trying to run a pump and dump scheme (insider trading was a distant second). I am in communication with the FCA regarding that. This has happened a few times before, most memorably when the share price went up to 40p+ just on massive buying but no new news. Then of course, there was a dump and long term investors like myself who bought at the higher price were left out of the pocket while the speculators who ramped up the stock and sold higher made money. There was no fundamentally significant news all through, from the way up from early 20s to 40+ and back again.
It won't be difficult for FCA to figure out who did what given the access they have to trade records. Just wait for a while. you and much
Much, posting dated stuff and saying it is new information is really bad mate! The publication date for the interview is on the 1st of May. Please look before posting and saying a few paragraphs on dated, old stuff.
An old interview posted as new is wrong information, I would say false information. Desist from doing that in the future.
I suspect the bureaucracy will remain broadly untouched after the fake iron lady departs. But the mandarins at whitehall will definitely need to get the go-ahead from the elected reps before approving (or declining) such a major item as financing guarantee for Sea Lion that will make the project go ahead. It will be all over the papers for sure if it's approved with all the concomitant publicity (negative?). Will the new incumbent, say Boris the blond genius, take a chance and approve it, with all the angry howls from the climate change crowd (with many in the press)??
I have become very scared of seeing this world anywhere near PMO/RKH. It has usually meant - "I don't have a freaking clue when we are going to get this done". Hope they follow the dictionary definition of the term this time around!
Folks, please can we have some civilised conversation that adds value, both on the long and short side.
I see a lot of folks who are positive unceasingly, day-in day-out, like Nigoil and a few others. No one complains. And people are starting to throw abuse at Carrot because he seems to have a negative view.
We should behave a bit more maturely even if this is a discussion board. Both positive and negative views add value.
I am long by the way. But I want to listen to the negative views too. Maybe it will make me lose less than I already have if the world turns that way and the oil in the Falklands stays in the ground. And maybe I won't take those negative views into account and oil comes out and all of us (excluding the shorts) make a lot of money.
In any case, it won't hurt to listen to both sides. I, for one, have been invested in this stock for 3 years and the big thing has always seemed to be around the corner. Hope it turns true one of these days!
GS, you are too smart to know this - but it is the percentage change which matters not the actual amount of the share price move. So the move might be 'only' 2p, but it is still 10%+ increase on the share price. I know for a fact that no institutional buyer will accept this - a 10% move on a £400k purchase. They all have to answer to their superiors including those in the trading division - the price can't be off VWAP by much. And you just can't move the market by so much with your orders. If any broker does it for a buy-side client, I can guarantee that the broker will not have that client for long.
No, this is either a pump and dump scheme or insider trading. In either case, a crime, which means jail time. I am going to keep a keen eye on the stock and the trading pattern. I have communicated all this to the FCA - I will be on this.
GS, I agree no crime has yet been committed. let's wait for the dump or the news. If the buyer doesn't carry out his pump and dump after being stopped midway through the pump, we will never know. But we will know for sure if it was an insider trading if there is any positive news in the next few days. Let's wait and see
GS, you say that I was unhappy that "there was a buyer of shares". However, I know that this is not how a normal buyer behaves in the market. In an illiquid stock like Rockhopper, any buyer, even one in size, will take great care to minimise the price impact. The large buyer probably got around 2.5mn shares. But even let's say I want to buy 10mn shares, I would do so slowly, so as to cause minimum price impact.
As I had said before, I can see 2 reasons why someone would be in that much of a hurry to buy so much so that he can't wait a couple of days to accumulate but would rather pay a 10% price premium - a) to pump and dump shares, and b) he has got some inside information that is becoming public soon.
you folks don't care about the small shareholders who might be suckered into buying this after a fake price appreciation??
The magnitude is not the issue - it could be 2mn shares or 20, but clearly there is an attempt to manipulate the share price or to take advantage of information not yet public. In either case, crimes!
el capital, trading in RKH will increase to 10s of millions WHEN significant news comes out! NOT just before the news is out.
And not for a pump and dump scheme!
Given the trading profile of trades yesterday and over the past few weeks, there seems to be just one buyer who was buying in size after 12:00 noon yesterday. She/he has stepped off now after the post about the complaint to FCA, which might or might not be a reason for foot off the accelerator.
GS, you are right, unfortunately. But this case is so egregious that it won't take much for the FCA to catch the guilty party. Sick and tired of the small shareholders being taken advantage of by the sharks.
Strange how trading died down after my post about the complaint to the FCA. Whoever it is that is doing this, you still have the shares and you are either trading on insider information or running a pump and dump scheme. Either way, once the FCA looks at your trades, they will find you. you WILL be caught!
When the FCA looks at it, they will uncover some serious manipulation of the stock price. Classic pump and dump if you ask me!
About me - I am long RKH. But I don't want to be suckered in to these scams that have run a couple of times in the last year and half in RKH. Yes, I am long Rockhopper because I think there is a lot of oil and that has to come out when Shale runs its course. But just because I am long doesn't mean that I condone criminal activity to prop up the share price. The manipulator/insider must go to jail! I will be on the case till it is resolved one way or another!
Rob, the story was reported in Bloomberg professional to which I have a subscription. I even quoted the first couple of paragraphs of the story. I work in the financial markets and there is no incentive for me to make rookie mistakes like that and destroy my own career. Why would I do that??
Learn to separate the wheat from the chaff.
On the other hand Marunam, someone working very hard and wasting a lot of money to take it up as happened yesterday. Why would someone buy so big and so quickly unless (a) he/she wants to move up the share price, or (b) is in a hurry because he/she has some inside information which is going to be in the public domain imminently.
Both of the above are financial crimes by the way. Let's see what the FCA say to my report of share price manipulation/insider trading allegation?
Comertoes, the price traded changes by the minute (maybe not so frequently with RKH) but you get my point. Sometimes the bid gets hit, sometimes the ask. You can't make pronouncements comparing buys than sells on the order book at any point in time which might confuse the hell out of unsophisticated folks.