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we have seen across other aim players, debt alone will not be enough to acquire decent assets especially when we have only 2 millions cash left.
any bank will need higher cash in order to maintain loan to cash ratio. as such, any debt will come alongside placing.
look how much we paid for assets in Timor leste, it was north of 20m if not mistaken. we will need large debt (together with larger cash as no bank will give large debt without higher cash ratio) for decent assets.
hence, i wont be buying as yet, very high risk !
watch out for pumpers
while TOM being pumped, Cantor still dumping and still have 5% to sell. any strength will be sold onto and not sure we have enough new buyers to absorb 5% to be dumped.
expect sp to retrace sub 0.6p while dumping continues -thats how i see it in my opinion
saw this tweet. OEX got full support from government and any outstanding permit etc to be issued very fast. also that means production to start immediately !
First Squawk
@FirstSquawk
INDIA GOVT SAYS TAKING VARIOUS STEPS TO INCREASE DOMESTIC PRODUCTION OF OIL AND GAS
https://twitter.com/FirstSquawk/status/1490636767850266630
Shell still drilling and yes they found oil/gas but hasnt finished the testing yet, and as such its premature for Namibian to formally announce that, until they know its commercial or not.
i suspect will be end of Feb when they can confirm.
even if we get approval this month, it will still need another month or so for the production to restart. it wont happen immediately as several steps preparation /equipment etc to be moved and prepared.
i think we will range bound around 0.2p until placing overhang is cleared, still another week or two still.
noticed EOG ticking up this week. Evil K followers might be buying more in EOG after he made declaration that he bought EOG
surely it will attract buyers to EDR too?
i am buying both TRP and GBP. already have small amount in both but time to load up more imho.
though i suspect TRP should have its rising day tomorrow,after all, TRP namibian licence is actually just next to GBP and TRP namibian licence is larger size than that of GBP
we have seen similar offer in ANGS last week for 1,4p and sp only 1p
firstly, how credible is the offer for AMC, or maybe with the security concern at ukraine, bidder might walk away? nothing is certain and discussion will take sometimes and sp will then drift back to around 2p?
those holding sub 2p will be taking profit (i know i would).
placing shares at 0.16p are making huge profit as they easily can sell above price. thanks to those pumping this.
yes, its good to hold but news will be for sometimes yet. this is india, not everything is fast. once traders get bored, they will dump this unfortunately
those in the know are selling. wont be buying now.
looks like permit might be delay. they had 60 days from the date below.
https://thehill.com/policy/energy-environment/587168-conservation-group-moves-to-sue-biden-administration-for-failure-to
most shares will have their sp drift lower than placing price. look at those who had placing recently and a couple of weeks after, their sp well below placing price.
traders will be exiting as tired or moving to other shares, and placess will continue dumping even below placing price!
if i am lucky, i can buy here at 0.4p. just need to wait .
just saw a tweet that actually WSBN and THR both are drilling next to GGP asset . and brief look, THR mcap only 13m. and lower than WSBN 20m.
nevertheless, WSBN still cheap. though wondering anybody got any view on THR as well?
am looking to add more to WSBN and buying some THR too while still overlooked.
reading on the other BB, looks like Circum news is coming next week (finally !). potentially Monday but could be day or two after.
our mcap is still low and hence i suspect this will have a nice rise next week.
for that reason, i bought in . lets see how far sp will rise next week, especially after weak hands have sold and they will be buying back again next week/
good luck all
i have sold my pension stake in VAST as i think this will linger around sub 4p for sometimes.
still have Atlas to be resolved !
i have used the proceeds to top up ORCP, which is now going from strength to strength !
gla