Member Info for Temple_of_Doom

…. Or given the recovery ….. fat finger error.

Stops up to 86.6p are taken out …. 98p or 78p next move?

Bear raid ….. ;)

86.6 lowest today.

That post August 8th average must be getting close to £1 now ....

... who'd a thunk it.

;)

From the fitch report Trek … note the part about selling gas as per government obligation at a fixed price but surplus gas to other companies ….

https://dmarketforces.com/fitch-downgrades-seplat-rating-outlook-stable/

Simply because Nigeria debt is downgraded by the looks .. but still a good read.

Goldmans always seems a contrarian indicator to me like Deutche Bank …. So I take their views with a pinch of salt.

Sustainable Capital Ltd Bought in, are they selling out?

Someone is selling … and they ain’t too bothered about the price they are selling at.

That said, the market cap. of Seplat is only £500 million …. If NNPC want the best assets in Nigeria and are willing to pay $2 bn for the Exxon assets why not just take over Seplat for effectively nothing.

;)

So .. do we get respite today or wot?

The only question of interest to me right now is 88p, 78p, or 68p low?

Nice big trade …. Going through ….

"AT ALGO’s and I also suspect some of the buys shown are actually sells today." AT trades are always exact Trek .... but a sample of the position the MMs hold.

"Still at least there is nothing on the short tracker for SEPL." Free float is too low I suspect.

Hedge funds can can easily get around the statutory limits by distributing positions across sub branches ... as I think I wrote already .. I complained to FCA about Brexiter backing Marshall-Wace increasing its long position in an Asian sub branch and increasing its short in the UK branch in my view .... need to be careful here!

But it's a dirty game when so much money is at stake.

It's effectively a wash trade and in principle illegal ..... but watch the larger £10K + "O" trades ... they seem to be the ones hitting the share price.

87p UT close I suspect.

GLA

Anyway .. we have been here before.

Seller is still trying to drive the price down. They need a close below 88p to keep the trend down.

"The US economy may miss a recession and at some point "

Any US recession is being controlled by the FED .... it's back to Reaganomics ..... the job market is tight, and coupled with supply issues and a lot of CV19 cash floating around people are pushing up prices that is pushing up wages, so the Fed wants to force people to losen the Labour supply and put downward pressure on earnings.

We have the same issues in the UK, with a tighter job market because of Brexit ... where Reagonomics was what Truss tried to implement ... even in stealing Reagan's "growing a bigger pie" analogy but of course the bond markets put paid to a high Brexit high growth strategy.

Meanwhile, with all the jawboning about not rejoining the EU, the UK is unwinding Brexit ..... so important to watch the £ .. especially when Brexiters fold over the NIP ....

.. I suspect UK will end up with a May -- EU relationship soon .... I May's deal without the backstop and adhereing to EU rules ... but without telling the population that is what UK has.

;)

Nice squeeze on oil ... people must have remembered the EU ban on Russian oil ....... in two weeks or so.

I make Seplat an 8.2% yield at 90p including Nigerian taxes.

Works for me.....

GLA

;)

"Far less fuel gets used in recessions...oilers always go down, no rush to buy yet."

Very true ..... but there is a big buyer of Texas oil at $70 ..... the Fed whilst oil supply is being cut and folk are in Seplat for the Exxon mobile asset.

Would not like to be short when the deal gets approved.

:)

The reason this share has weakened is because of credit rating downgrade in Nigeria ….grabbed dome in the 89s.

GLA

Same game as this time last year …. Tree shake looking to spoof weak holders. If the Exxon news comes out negative shorts win …. If not they lose.

But check out SAVE that’s being hit too.

;)

I read on line somewhere that Exxon had given the Seplat sale until the end of November to work through … probably a mischievous rumour from an African source and behind a paywall … but NNPC are in no hurry in delaying this deal … so it’s best written off. 92p though is a steal in current market.

80p target …. No support here at this moment but picked up £5k at 92p

Nothing mentioned about extra delays ..... Seplat CEO was simply touting additional benefits of ANOH at some conference.

Small morning rise heavy selling in the afternoon ... shorts playing .... they will close at some point.