Member Info for SEA7

I see that at 6.39p on my screen, shown as a sell, as the mid is 6.45p

despite the last six out of seven trades being buys, the price has been moved down from 6.5p at the open, to 6.47 when I bought, then 6.44, now 6.4p. Each buy has elicited a lower price afterwards. I have been getting quotes all morning to validate this view. I have seen it many times before and indicates a seller in the background. It almost always indicates a low being in, a reversal on the cards and when we see the seller clear, the price should appreciate again. If we get positive news, then the seller will clear in the rise, if not, then we will be surpressed until the seller clears. Of course, nothing is guaranteed, however, when I have seen this set up before, it usually means the stock is getting ready to reverse trend.

Mine was at 6.47 as well. I see a trade at 6.44, so it appears that there may be a seller in the background, as they are offering cheaper stock, after buys going through. If it is a sizeable seller, then I expect selling to accelerate as that person gets close to exhausting the holding. We may see a couple of large trades go through which would indicate a seller exhausting suppy.

yep, I was going to add yesterday, however, when I saw stock at the bid, I thought I would wait until the spread had moved to reflect the price being quouted. It has now and I have picked up some more today.

you too ezhik

lol - I got caught out on that once in a different stock - saw the pre-open, tried to trade the open and nearly got burnt - never again. I wait till the stock opens now!!

that is the risk of a short - infinite losses. extreme case - say lion suddenly announce a massive gold find during geological exploration in finland or india, which puts it up there as a multi million ounce project. The shares relist as expected and the price goes north rapidly and arrive at many multiples of the suspended price in seconds. Anyone with a short will be hitting the close button as fast as possible and will still incur monumental losses, which they could have to sell everything to cover, even non market related things.

yep see what you are saying. If they expire during suspension, then at suspension price is the most likely.

not neccessarily 1onic. spreadbets are synthetic and not subject to disclosure requirements and nearly always leveraged signficantly. small outlay yet, large exposure - usually.

yep, that is why you choose your provider carefully. No one, apart from the odd one or two, will have realised that this should have been suspended earlier. There will be some spreadbets in limbo now. Direction will be decided upon relisting. It could be costly for a lot of players. If there is good news during a suspension, then someone with a large short exposure via spread or cfd, could be faced with total wipeout. At least a long is capped at a 100% loss.

Q. Anyone know what happens if you are holding a short on a company and the share gets suspended? A: Much depends on whether the stock remains suspended beyond the expiry date on your bet. The spread betting bookie's rules do explain procedures for that situation. If you happen to have a long term bet, you might not encounter an expiry date during the period of suspension - but you will have a chunk of margin tied up and annoyingly unavailable to utilise elsewhere. Also need to beware of other types of corporate action that a distressed company might engage in and which could mess up a bet. For example, if the company announces a major rights issue at a discount to the current market price, that might usefully knock the share price down - but someone with a downbet might find themselves deemed to have said yes to the additional shares (because of them being attached to the borrowed stock underlying the bet, and the lender may have taken up the offer), in which case you suddenly find yourself with a bigger size stake - and possibly hit a margin limit in doing so. Beware however that different spread betting providers have different policies on stock suspensions It appears that a suspension can be deemed to be an act of Force Majeure in which case a firm could close out at any price they see fit, quite often this could be the suspended price for shorts and zero for longs. On the other hand IG Index will make a 'reasonable assessment of the market value of the instrument following suspension' before closing any positions. but it depends how reasonable their assessment is of course.

for those interested - not checked to see if the info is still accurate... longs.... Q. What happens if I placed a spread bet and the company is suspended? Does the bet remain open after suspension or does the spread betting provider automatically close it? And what if the bet expires but the share is still in suspension? A: If the stock is suspended it doesn't really matter to the spread betting provider as they are not trading the stock, in fact they could still be making a price and taking bets while the stock is suspended, unlike the market where no dealings can take place. They may not show the price over the internet and you may have to telephone to deal. They may take a view of the possible outcome after the suspension, or other spreadbetters may, therefore the price may vary considerably. However, keep in mind that different companies have differing policies: Spreadex: On the issue of suspended shares, we would simply replicate the actual market, e.g. if a company were to be suspended we would keep them suspended until the share recommences trading or a decision is made on the outcome, i.e. a takeover has gone through, or the company has been placed into administration. Please note that this can often take considerable time and as in the case of Northern Rock (shares suspended at approximately 90p). Capital Spreads: With regards to your second question regarding the suspension of a share please see section 16.8 of our Terms and Conditions for this: 16.8 If a share is suspended London Capital Group Ltd is entitled to ask for additional margin to cover any liability to the extent that London Capital Group Ltd considers a fair and reasonable price in the circumstances. If a share remains suspended for more than four business days London Capital Group Ltd at its sole discretion may close the bet with reference to the last official price at the time of suspension. ODL Markets: If you had an open position on equity which subsequently became suspended we would simply leave the position open on your account. You would be unable to trade out of this position until the stock is active in the stock market. We would never just close the position for you. In the case of a company gone bust as in the recent case of Lehman Brothers which filed for Bankruptcy protection spread betting providers enforced a 100% margin on the stock.

yes I can see the problem, however, I can also see the reasons. They encounter issues, say at M195 which will require a lot more costly interventions, so they leave it and move onto another well. This leaves M195 available to be re-visited at a later date. They move to Z28, reached a certain point, where they came to the conclusion, that work required to complete the tasks, could be carried out, once the kit they have available has done its work at z21. It will be that Z21 will complete and z28 will not be far behind it. What I see is them trying to make the most efficient use of the kit available, whilst managing a situation, which is not delivering the results as initially intended. I can see what they are doing and have an opinion on why and to a lesser extent, how. There are so many targets on these three fields, that they have plenty to choose from. It was made clear in the Admission doc, iirc, that some wells may not produce and some ESP's may not increase production - this is one of the risks that we are aware of, when buying into O and G stocks like this one. I personally think they have turned the corner and we will get some decent traction over the coming weeks. AIMO of course. The share price is showing that the benefit of the doubt was lost a while back, so it is priced for failure, which is where the opportunity is.

They have not given up on z28...from the rns... In order to maximise the potential success of the Company's ongoing workover efforts, Zenith has further expanded its geological study to concentrate on wells Z-21, Z-28, Z-3, Z-14 and Z-4. The primary objectives of the study are the identification of high-value drilling locations and possible workovers in Zardab, as well as the verification of previously announced discrepancies between historical well data and the actual characteristics and condition of each well today. The preliminary findings of the ongoing geological study have encouraged the Company to increase the scale of its operations in Zardab. ................... The order of importance and priority is clearly shown by the sequence shown in the extract above, regarding the wells. z21 first and so on. The rns states that once z21 is complete, the will commence milling at z28. z3 looks as though it is going to get attention, in tandem with work at z28 and as thewellhead has been dug out a z14, they are preparing this site as well. I would say that mikes way of doing things is very flexible. He is moving from one well to another, before any production is seen. There will be good reason for this and I suspect a lot of it has to do with timelines to production, based on what they are encountering in each well. If this plan succeeds then there is a good chance that we could see a couple of wells come on stream in quick succession in zardab. The focus is in this field, as we haven't heard anything abour jafarli and muradkhanli since the april update and that was short on facts. In my view, they are keeping the light on in the wells that are producing, after shutting in 31 wells, focussing on zardab and planning the drilling stages further out. Andrea may be struggling to get finance for the indonesian purchase and has said they need more time to evaluate, so in my view, he is awaiting a decision from a lender that has not arrived yet, so he is hedging his bets. z21 was pouring oil onto the ground, so its not like it was trapped 2 miles down. This should produce when completed.

whenever I see buying and selling available at the bid, then the price is weak. It will need to re-set either moving the offer price upto the indicated price or dropping both down a notch. As you say, a sizeable order being worked through to create this weakness, without it being displayed.

Do not be fooled by the trades going through at 6.5p - the current bid. I can buy in size at that price. This says to me that we will either see the indicated prices drop to 6.25p bid/6.5p offer - or the stock gets bought up and we stay flat.

no problem - closure on the funding position of upto �2m would be ideal and would move matters along sooner. Still looking at mid september to be at the upper end of camerons estimate. Will be keeping it on the watchlist, in case it comes out of suspension early - may make a good trade.

aim rule 27. A further admission document will be required for an AIM company only when it is: �required to issue a Prospectus under the Prospectus Rules for a further issue of AIM securities; or �seeking admission for a new class of securities; or �undertaking a reverse takeover under rule 14 The latest edition of the rules to march 2018 states the above. It is fairly clear which one lion is involved in.

fastnet oil and gas, suspended for 8 weeks, became amryt pharma. When suspended it was �10m cap, 345m shares in issue, relisted at �50m mcap with, capital reorganisation, raised �10m as well and placing price of 24p. Look through value was about 3p against pre reverse takeover, which was the closing price on the last day of trading for fastnet oil and gas. The stock climbed on day one, then dropped and stayed around 18p for ages. Today the price is 18p. They raised �13.3m at 20p last year as well.

993444, lion are not that well funded and will not be paying top dollar for this. from the rns Lionsgold shall work with its advisers on the preparation of an AIM admission document and the process required for readmission to trading of its shares. Lionsgold's ordinary shares will remain suspended until the Company fully complies with Rule 14. This process is expected to take three to four months to complete.