The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
@Trackaman. Your shares could be loaned out - why would your broker tell you and have to split the fee! Seriously you can easily check with your broker/platform if they lend out shares for shorting and instruct them that your shares are not to be loaned out - unless you would rather have the fee than an SP rise that is!
I see what you mean - but sells are way over those totals - probably double at least, so we would have TR1. Not many PIs have over 20m but I bet some do and it only takes one. Bigger investors sell on strategies - so it will either be earmarked for another investment or other costs. You’re wasting time trying to persuade them once they’ve decided - much better looking to bring in new investment through developing opportunities, which is what the BoD seem to be doing - and there are more and bigger buys appearing alongside the sells.
Unlikely to be IIs imv. BGF have only ever sold when the SP was above their entry price of 3p, they sold in one block and reported it within time scale. Little in it for big companies not to report- if they are going out it’s usually a case of “what do they care if people know”, these are minute margins for them. They both own way more shares than the numbers you give 28.7m is approx the 3% mark. Someone or group seem to have made a New Year review decision to sell at virtually any price - having committed to this they are unlikely to be swayed now by the Board. Hoping that it was a large holder under the threshold who commissioned broker to dispose of holding by end Jan. as it looks like high 20 millions sold off over period. If it continues and then it looks more like a coordinated effort, and you have to start wondering what parties would have anything to gain from a strategy of increasing despondency amongst shareholders.
Any of our large holders would have had to TR1 along time ago (and when one of the IIs did sell before they followed the reporting rules). If a single seller just below 3% then they must be near limit as this pattern has gone on for 4 weeks and there have been approaching 30m in these apparently grouped sells. Might be just random chance but pattern of rounded sells regularly taking SP down and then selling more heavily looks odd. But if more than one seller involved it begs the question of who could be benefiting from this? Got no good answer to that post EG and Irish extension.
Wonder if Inishkea West might also come in cheaper as it’s shallower - think WH mentions this in interview - and they have as good technical analysis as you can get on this prospect. Suspect any interested party might also swoop on all available licences in area to give themselves multiple opportunities.
Decent market reaction by end of day as the penny dropped. It’s the granting of a two year extension rather than last time’s one year that flags up a change in the Irish Gov stance for me. Think there are good reasons to be positive about Ireland prospects. After such a grim period here, some positive green shoots.
Thanks BobbyB - that’s a good reminder of the prospects and why it’s been worth persevering with this. I saw on a PRD rns that they have had signals that they may be getting news on their (largely unexplored) near Corrib licence to turn it into a FEL. If that gets approval too then the signal that Corrib is open for further gas exploration will be amplified further and all of us who came here originally for Ireland might finally (and unexpectedly!) be able to say “I knew I was right all along”!
I suspect after so long waiting for an Irish farm out it may take a while for this news to fully sink in to the market. I can’t see now how the Irish Gov could renew twice (taking the licence money) and then refuse a reasonably funded farmin and drilling operation - without getting sued massively. Hopefully some of the bigger interested companies will be drawing some of the same conclusions.
Very good news today. EOG given a two-year extension on licence. Seems a clear positive signal from Irish Gov. Hopefully enough to give majors confidence to look at investment - or at least time to see beyond current Minister to a different approach.
So only took 11 months and 16 days for the EA to process the request then - shows what a nightmare it is getting the simplest permit issued. Wonder if they are still interested in going down this larger engine route - rather then wait for Pstones drill related fixed gas pipe?
Dont follow that Bubble - what has Stormont NI got to do with Inishkea?
BobbyB - litigation - well that would certain meet Aimshame's criteria for not going anywhere fast!
Personally think that "just a" farm out on EG would give the SP a kick up the backside. Lets face it - it would be the first farm out success for EOG for many years.
Yes, LOS - although the Ryan does not have a good record of responding in time - I think he was several months late last time to renew the license. If we hear nothing from Ryan, the license apparently remains in play until the Minister publishes his opinion. If its a no that's 10 wasted years - in fairness one to put down to HM rather than the current BOD I feel.
Africa? Licence for 34 days including xmas period. Going nowhere fast - how do you know that? I agree with you on Serenity - but probably should hear fairly soon on Cloughton and Ireland if they are going forward in any meaningful way.
FFB - Can’t know the precise day they will announce PSC, but can know for sure that Petros farming up into bigger companies carrying out offshore exploration has nothing to do with timing of them agreeing an internal to Sarawak onshore PSC - completely separate activity. The tweet is there because it highlights Petros’ commitment to rejuvenate onshore exploration - which is absolutely relevant to UPL.
End of Jan is less than a week away now, so think we should learn a lot more by then in company update. At present the SP looks like it’s moving in a narrow range, so clearly as many buys as sells overall.