Member Info for Strongman

7.30 bid now

7.48 printed

7.25 ask for 50k shares.

Simple way to figure it out.

Short was 5.8m shares
We saw the following sells of 5m and 4m

Total dumps 14.8m, and that is not including any of the odd number sell downs they were making Tuesday.

Conversion

3,968,253 and 11,904,761 = 15.8m

Forward sells are permitted on the markets via market makers, as long as they have confirmed shares to be issued to cover.

''The Company does not intend to drawdown further on the Sandabel financing facility and is exploring alternative financing options.''

Sandabels own fault here, and what for, a few grand profit quick time. Mind you I am glad they did it, as these CLN are negative death spiral deals for company's. Now we have £1m extra in the bank, conversion shares all washed through, days away from hitting first oil zone with 90% COS, it is all finally coming together here.

Great news, Sandabel are history

29 November 2018



Anglo African Oil & Gas plc, an independent oil and gas developer, has received notification from Sandabel Capital L.P. ("Sandabel") that it has exercised conversion rights over the remaining £250,000 unsecured loan notes, issued pursuant to the partial drawdown announced on 19 November 2018, at a conversion price of 6.3 pence per share. The company will, therefore, issue Sandabel with 3,968,253 new Ordinary Shares in the capital of the Company (the "New Shares").

The Company does not intend to drawdown further on the Sandabel financing facility and is exploring alternative financing options.

6.95 mid finish. Good day, first blue day for ages. Hopefully the first of many.

Good evening.

What we are seeing here is the pressure taken off the share price from the recent Sandabel short / forward sell. Instead of the market makers having ready available feed all day, now they have to go back to basics of matching buys with sells on the book. This was always going to happen, it was just a matter of waiting for Sandabel to do their business.

Now they are gone you are seeing good percentage rises from today onward on the back of people taking a position again. They all know that the drill is forever getting closer to R1, and here and now is the early punt money going in. I expect it to accelerate towards the end of next week substantially, unhindered by any overhang or cash issues from this point on.

A close in this area would do me today, although a close in the 7's would be perfect. Both reset the technical and charts to bullish overnight.

Good to see some relief finally filtering through.

You are forgetting marineville, some purchased at 6.40 and sold for 6.50. Oh that was you :)

6.975 v 7.10 now. Just starting to get going, but this time no Sandabel to sell into the rise. Square book all morning, and it was coming.

Much better, JBER on high bid again.

Sorry, yes 6.26

No need for that, as they can use the low bid of 7.26 set yesterday anyway. Think this is just a consolidation day after a few wild trading sessions. I am happy to see the seller not dumping, that is a positive for me.

5 hours into the trading day, and no sign of seller so far. Lower volume indicative of that as well. Perhaps fence sitters waiting for confirmation today.

This is what we should be talking about now. Sandabel have taken over as main talking point for over a week now. Time to put them to bed, especially as I believe they are now gone, dusted and banked profits. Last conversion end of this week, but thats a formality as the shares are already sold forward.

theiceberg, I have penciled in next week (Thursday or Friday) for intersecting R1/2. This should now rise all the way to results.

Hence the wide spread, they will lift the bid to suck some sellers in I guess when they are ready. JBER were looking for 500k on the RSP this morning, so they do not have that constant feed as before, otherwise why come to market for it.

Bid is over 6.40, although market makers are sat at 6.30 hoping to catch any weak ones. They will move up soon if they do not.

Looking at the book, the S team have gone home with the winnings from the past week or two. Could be wrong, but strong bid demand this morning is indicative of no overhang so far this morning.

JBER searching for 500k shares, book is switching I think.

Interesting, has the overhang / feed finished, they are now quoting for large size on bid. Now there is a first.

Well Sandabel did not close the short on Monday by buying back on the open market. They would have shown the official RNS of 11m odd shares that they will receive tomorrow to settle the short position in full. Normally only once settled do you update the FCA short register, but we all know how Sandabel and regulations work.

All we have is the last conversion working through the book, 5.8m volume Monday and 5.5m volume yesterday. So they are on fumes today. Once done we should be back to normal book and Sandabel will be history once and for all.