The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
BDC,
Conversely though.. I suppose you could sell the holding, to drive down the share price in order to drive a significant return on a CFD short position that you simultaneously had open.. or is that over thinking it?
IMHO
If the position
The other point of note is that Simon Thompson has been unusually quiet.. it's almost 5 months since he last published his 'hold' advice and words to the effect of 'when the dust settles expect the heavily oversold shares to bounce'
Good conversation on this forum today, btw! This is exactly the sort of thing we should be exploring/discussing..
DYOR
I originally thought that Whimax, but on 21.3.24 they were sat on 4.91%. I am not sure how to read the constituent parts of their 4.91% though...
If the market cap was say c. £90m, it would mean about £4.5m. Askar picked up c. 1%,m which we know from the RNS that dates back to the transactions on the day of the Energean transaction completing. There were also some significant trades beyond the ~£1m that Askar will have picked up.. and these followed in the next 1-2 days. I am not certain they are entirely out though.. It's probably close but not impossible that they still have £1-2m that they are gradually clearing down..
IMHO
I spent an hour this afternoon having a look at any info publicly available on Askar. There isn’t a huge amount of intel - but he, through Meridian, is an investor who seems to favour FMCG, Natural Resources (Exploration and Mining) and Infrastructure. His plays generally seem strategic and longer term. He does seem to have some form with acquiring companies - but I couldn’t find much about this. The narrative definitely points towards this being a serious investor whose increase in shareholding will, unsurprisingly, be seen as a vote of confidence in chariot and is unlikely to be a quick punt. Given his activity in the natural resources - namely exploration and mining space it is likely he knows AP.
It seems unlikely that this is either a quick punt or unresearched bet!
DYOR - but beyond the obvious I think this looks encouraging and may draw others..
I wonder if you were right Whimax about a buyer keeping the price in check... time will tell, but assuming this is accurate it's a massive vote on confidenece.
I think a poster called 'Amanda...' posted a comment on here a few weeks ago in relation to Askar, so would be interested to hear their updated views - whether Askar has been moving funds, motive, etc
DYOR
I suspect that Energean are keen to get on with this.... They have been clear about Morocco, potentially, representing a key point of diversification to their existing geographies and therefore getting clarity sooner rather than later will suit them. AP has also talked about their ability to potentially accelerate Anchois production timescales if they choose to, although he wasn't clear on the how.
There is some interesting activity on the near term horizon : Loukos, Anchois, Strategic Review on Power arm, with heavy newsflow in the next 3-4 months.
As someone highlighted recently, you can only sell once (in relation to persistent selling)...
DYOR
Thanks Surfit / Gooner..
When you say long term , I am curious what you think the following may do to the share price
i) The strategic review of Power. Speculation of up to 10p per share.. even if it's worth 2-3p+, it's 20-30% of today's mcap
ii) Finding more gas than expected, combined with a plan to produce by end of the calendar year
iii) Successful drill(s) on Anchois, unclocking over 1TCF and Energean taking up the option with FID in place before end of Calendar year
If all 3 fall into place, let's say by end of this calendar year - October/November/December..
What do you think that's worth... I dont regard that as seriously long term as a timescale..
DYOR/IMHO
If both 2 x 6 percenters are selling out .. I suspect they still have some left.. especially if Askar was also holding through other means ..
Whilst it’s an inevitable ‘how long is a piece of string’ does anyone have a view on how much they might have left .. assuming the entire 12 percent has been sold / is up for sale ..
Agree Bubblepoint
https://www.offshore-energy.biz/stena-drilling-drillship-goes-to-work-in-morocco-as-energean-takes-the-helm-at-gas-field/