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Really surging today almost $60 per barrel.
Personally as I have said before, I think the catalyst on this one now is what Oozi Cats does end of November and if he wants to sell his holding in Tellit, for the right price I am sure. With RLT holding 14% it could get interesting if Oozi does want to sell his 12.9% stake. All speculation of course, but I would rather be holding shares now than trying to buy when any announcement is made.
Periodically check these and now think the SP has dropped into my buy zone range, but unfortunately fully invested elsewhere and showing good gains, so will just have to sit and watch for now. But IMO has some long term potential and share price beginning to look attractive. GLA.
Yes it does appear to have volatility at the moment up and down, but have stopped buying just waiting to see were it goes after Oozi Cats agreement expires end November, so this is just a hold for me now waiting to see if a bid comes in within the next 12 months. But good luck if you are trading these within a range.
As I understand he had to resign as CEO and has left the employment of the company, but yes I am sure he still has some influence as a major shareholder but if some third party offered him �40 - �50 million for his holding I am sure he would be tempted IMO.
Not sure the BOD will have much say if when Oozi Cats agreement on selling his shares expires and he wants out completely. But hey ho you pays your money you takes your chance. DYOR & GLA
As I said in one of my posts a few weeks ago IMO irrespective of short term share price this is a long term buy and yes been buying at 145, 155, 165, 175, 185 very similar to Run Liang Tai for the record my average is now 163p so only at todays close making a few grand but the holding is based on a probable end play of a takeover bid or the management defending the vulnerability which IMO would send SP back over 200p anyway. A RI I believe is commercial suicide in that RLT and other predators just take up their allocation and then buy PI shares on the cheap. Of course a sale of part of the group is always possible but again IMO this will just push up the share price long term again.
Sold about 1/3rd of my Faroe Petroleum holdings its broke pound barrier a few times but cant hold it so stuck cash into HNR mainly and some in TCM
Just added some more at a shade under 170p, but a quiet day so far.
Expecting an RNS tomorrow on holdings with some large trades booked after close, and although gone down here as sells likely to be buys IMO from earlier in the day booked late. We await to see, but if Run Liang Tai buying again can see the SP racing away higher tomorrow again. DYOR & GLA
Could be significantly higher IMO than even that if this does result in a possible bid for the company.
Think the FT are a bit behind the TIMES on this one, in my opinion speculation on a possible bid has been going on for several weeks, but nice to see SP reacting and I do not think Run Liang Tai have ceased buying yet.
Oil price approaching $58 per barrel and likely to go higher this year, share price IMO well undervalued and would expect year high to be breached before Christmas. Will be buying a few more to top up my holding here and good news on HNR fracking completed.
Well back to breakeven on my latest TCM trade, but in it for long term anyway as I am sure if you read my posts you will know. Currently going through 4 X 4 brochures for a new vehicle next year. GLA.
Granted my mistake just read the total position an saw it had increased to 7.60%.
Even Goldman Sachs adding back shares now.
Should really have added this is only speculation but a few other investment trusts have also been buying up shares Algebris Investments and Lazarus on the fall, remember less than six months ago if you wished to mount a takeover bid on Tellit IMO you would have been paying �6 or �7 a share and now you would probably be successful for less than half this. Of course investing is always a Risk and this may go lower yet, but I still think a buy out is highly likely.
Oozi Cats sold 7million+ shares on reported RNS 24 May 2017 and agreed as part of the deal not to sell any other shares in Tellit for six months, and of course should he wish to sell when this period expires it will almost certainly be a private block sale off the books. My guess is Run Liang Tai are likely to act as brokers in any deal with a third party (likely Chinese competitor) wishing to mount a buy out, they only need a few more percent if combined with block held by Oozi Cats to secure the 30% level.
Must stop buying these so final tranche today at 145p, so now back at the level of shares sold at 320p, with average just below 160p or half. Took 4 years to build from 85p to 320p but trading on the way, but hopefully this one will be quicker as if I suspect Run Liang Tai are building their stake for an end game if Oozi Cats shares become available once his agreement expires and I am sure if someone offered him �50 million cash he would take it. In the meantime will now concentrating on building up my stake in HNR. GLA
Decided to abandon watching this one no real volatility or movement and invested all spare cash now in HNR anyway up 30% in a few weeks and IMO has huge potential. But good luck to all especially Yorkshireman for getting in at his buy in price but it never dropped to mine.