Member Info for SEA7

thanks samplemix

people like JF buying is a vote of confidence in the assets.

thanks bungle,

The stock moved up, then we find out GOG issued a TR1 after selling - this uplift would indicate that the supply of stock has been turned off, that being GOG have stopped selling.

GOG may sell further, I do not know, however, based on what I know, I view things in the way I have described in earlier messages until info comes along that says otherwise.

PH is looking for further acreage and GOG are likely to cut a deal in shares for it.

at least we know why the stock suddenly climbed - that selling pressure from GOG was lifted.

if they had been dumping it on the market in great chunks over the last week, without having sold anything for months, I would be wondering why.

They have been selling the shares since last year and have reached the level they were aiming at, based on where they wanted to be cash wise.

These guys have a strategy and are sticking to it. This will have been decided in scenario planning relating to the sale of the stock months and months ago.

They retain exposure for potential upside as well as getting their asset sale cash off the table.

not everyone sits there all in, biting their nails, hoping for the best.

Bedex,

They agreed a sale price ages ago. There was a lock in period. That lock in period was over some months ago. GOG are de-risking their holding and simply turning the shares issued as payment for the assets into cash. They retain a decent exposure to the stock having derisked it well.

If it goes completely belly up, they have already booked their sale in cash by selling those shares and will not lose anything.
If it does well, they benefit from the continued exposure to the tune of 20m shares, which owe them nothing.

should be cautious11 - they have declared by issuing the TR1 today, for sales going back to November, which they have never bothered mentioning to Block.

GOG had shares issued to them at listing for asset acquisition of $250k and another at $1m, then the WI increase of $500k

This is $1.75m issued in shares to them. In GBP Its about 1.3m

If we say GOG sold 22m shares at 5p (they achieved better prices) that is £1.1m

All they have done is sold enough shares to extract the cash value of the sale to block of the assets and some - they still retain 20m share exposure.

you need to look further...

They held just over 9m shares at the date of the listing doc, then held just over 32m shares on listing day.

When block increase WI to 71.5% in WR they issued 9.5m shares to GOG in payment of the $500k purchase price at 4p per share.

This took them to over 42m shares or 15% of the issued stock at the time. That was march 2019.

On the 4th April GOG issued a TR1 saying they now held just over 31m shares.
On 22nd May, after the placing GOG put out a Tr1 saying they held just short of 28m shares or 8.77% of the stock in issue.
On 26th June GOG issue a TR1 saying they held just short of 27m shares
On 15th July GOG issued a TR1 saying they were back up to, just shy of 30m shares.

and today, they announce they hold just shy of 20m shares.

GOG holding has increased and decreased to varying degrees since listing. Prior to the actual listing they held just over 9m shares - today they hold just short of 20m.

They are booking some cash returns and have been using the liquidity of the stock to sell at prices in excess of what they got them at - that being 4p.

I wouldn't read too much into their buying and selling

from georgia oil and gas website....

GEPlan Senior Geologist Angelo Ricciato said “Onshore Georgia and in particular the Kura Kartili Foreland Basin may turn out to be one of the most exciting emerging hydrocarbon plays of the coming 5-10 years. “

yep ezhik - i added a chunk at the end of last week at 4.63p - thought I would be getting close to news time.

analysing that 3d - could be large structures identified - new zones etc also.

The 8p support line was broken properly on Aug 12th, a new resistance level was created at 7.5p. We hit resistance on Aug 21st, Sep 16th and then pushed through it and hit the old 8p support line on the 30th Oct. As we the overhang seems to have begun to clear, we are pushing upwards again.

We need a sustained rise above 7.5p to flip this from resistance to support and then we should have had decent news, that puts these lower prices into history.

today...

Georgia Oil and Gas Ltd 21,590,000 5.47%

They got shares at 11.99p when block moved to 100% of WR

15th July 2019 - Georgia Oil and Gas Ltd 30,285,070 - 7.47% of shares in issue.

They have been trimming their holding also.

miton merged with premier asset management in september - change of focus I suspect and they are looking to dump poor perfomers and up their profile to attract new funds.

AC has always stated the desire to expand the group with acquisitions, this desire is also fuelled further by this statement in the bond prospectus..

Lack of diversification of the Issuer's business activity.

The Issuer is currently only involved in oil production in Azerbaijan and natural gas and electricity production in ltaly. Therefore any legal, regulatory or other change of the framework conditions in one of those national industries may have a substantial negative effect on the financial situation of the whole Group, since it will likely not be able to compensate negative effects that appear in one field of business with its business activities in another area of operations.

..........

By obtaining another oil asset in a different country reduces the risk noted above and should help the bond issuance along.

I have read his views on other companies and yes, I agree that he has been right on a number of companies, however, he is no angel and I do not consider him to be the virtuous type.

I do have a free account and SP, which allows me the obligatory 2 or 3 free pages a month, so I do read some stuff there.

TW is no angel...take what he says with a large pinch of salt.....

http://financialtrolls.blogspot.com/

extract...

Winnifrith, as most already know, ran the ill-fated Rivington St Holdings, a company that went bust losing thousands of share-holders millions of pounds. He was ‘booted’ by Jim Mellon for major compliance failures. Documents seen by this website paint a sorry tale on the back of a report from a KPMG investigation into the transference of £100,000 of share-holder money that was rinsed out of the company to Tyre Solutions Ltd, just before the administrators came knocking. Tyre Solutions very quickly went bust. The report found that: There were three potential areas for a fraudulent transaction. – that the initial investment proposal was a fraud on the EIS fund – that the proceed of the investment were fraudulently expended by Commercial Tyre Solutions Limited or its officers or employees – that residual assets were fraudulently disposed of before the appointment of the administrators”. Winnifriths recollection is rather sketchy….
TW had also been actively buying stock in Athol Gold to ‘hold up’ the share-price. He was the AG Investment Advisor! This is absolutely incredible! The document has 18, yes 18 major compliance breaches. On compliance Note/breach 13 (Unlucky for Tom) ; Athol Gold c30% held on an aggregated basis —TW inv advisor to AG. Funds keep buying AG to hold up price. Tips 1M get perf fee from AG and from funds. The full list of Compliance breach’s can be read at the bottom of this Blog.
It gets worse, a Suspicious Activity Report (SAR) filed by the compliance officer, Michelle Lees, on yet another dodgy deal orchestrated by TW, (see document at bottom of blog) with a chap called Mr Zamavi Sithole, who was on the then ‘FSA radar’, accuses him of acting ‘Ultra Vires’ which basically means illegally