Member Info for Urraca

It certainly doesn't look as if Goldman Sachs are trying to liquidate their holding.

Where have they said that 1K9504?

The force is strong with this one

But, just to play devils advocate Tigris, buybacks are often used to massage earnings per share up, and try and disguise the fact that companies aren't growing. Given SDX's problems achieving the long forecast 8,000 boepd production it could well be met with suspicion. Also I've rarely seen it push the market cap up, and it smacks a bit of desperation.

Anyway, I'd prefer SDX to devote the cash its generating to organically grow production, and I look forward to hitting 8k before the end of this year.

Mamms. If you have lost around £1m that's a bitter blow. I don't know what other assets you have, so that might be pocket money, or wipe out territory. But the reality, right now, is that the capital you have invested in Logp/Pvr is what it is now. If you genuinely think the Chinese will walk away, then you must also genuinely think that your capital is going to shrink pretty drastically from its already dismal levels. In which case, the rational trade is to sell right now.

For myself, I'm staying put to see what transpires. I haven't bought more - the risk has increased. But I'm thinking about it.

Good luck whatever you decide.

If they are heading for the exit, then it will be time to worry. On the other hand, if they buy more...?

It will take a lot more sells to convince me they're going.

I agree tidds. The farm out agreement is a legally binding contract. If APEC walk, they'll be on the hook for litigation for breach of contract. Doesn't make sense.

While I take Mamms point, I do have some sympathy for APEC in not handing over the cash in advance of it's being needed. Probably best sat with them than TOR. But this will certainly put DCCAE on notice that Chinese patience is wearing thin with the endless delays. Lets see what happens next week, on the 14th.

It does rather look as if APEC do not intend to pay unless Government consent is forthcoming. And their patience has now worn very thin. So, what does the Government want most? Chinese investment in a project to deliver cheaper, cleaner energy, that is inidgenous so will produce tax revenues and greater energy security, and possibly open the door to further Chinese investment? Or away with the fairies magical thinking about a world that runs on unicorn dreams, and which, if implemented in accord with An Taisce demands, would mean cold, hunger, and destitution for the people the Government is meant to serve. Hmm. Hard call.

They still have a £10mil loan facility from the ERDF undrawn. I can't remember the terms, but I imagine they're a lot better than some of the loan arrangements cash strapped AIM companies sometimes take on. So why would they need to place? Unless they were making a huge acquisition. And with PW now gone, that's probably off the table for a bit.

If you look at the bottom of the balance sheet, the bit headed equity, you can see that most of the company's equity was defined as share capital. The face value of the shares bears no relation to the market cap, or indeed the price that may be achieved by new issues. This change allows the pretty large sum assigned to share capital to be moved to retained reserves. And therefore, as they suggest, distributable.

Having said that, I wouldn't be expecting a divi this year. But maybe in a year or so, when (if) SD is on-line and the next drilling campaign is finished. I expect the large shareholders have started pushing for this. They've waited, and now they'd like to start seeing a return.

Two big trades today, far outweighing the sells. Spose the price is edging up. Where are the Mms getting rhe shares to meet the buys though?

After 5pm. Highest price of any trade today. Shows as a sell. Lol

Its dropped more than 30% in recent weeks. But I agree the big holdings are probably enough to deter any low ball bd attempts. Very disappointing that 3 buys totalling 400k shares barely moves the price. If they were sells they'd probably cause a 10% drop. So I guess the MMs are not feeling they need to attract sellers yet.

Maybe he noticed the results of the Australian elections. People simply won't vote to make themselves poorer or lose their jobs. Not without a serious 're-education' programme of the sort some people propose.

I don't wish to be mean caveat, but £1.50-£2? The shares are trading at 11p. There is no way anyone is going to pay 15 times that. Look at Ithaca, Faroe, Ophir. The only deals in this sector are hard bargains. There should be upside from where we are now, if indeed James can sell this, but don't have unrealistic expectations.

Market cap considerably lower than Ukog now. What did Keynes say? 'The market can stay irrational longer than you can remain solvent.'

What's going on with these big trades right in the middle of the spread? And the two delayed trades from yesterday? Buys? Sells? Half one, half the other? I am baffled.

I'm expecting a strong bounce tomorrow when we get an RNS saying Paul has left the building

Phew, lol. Thanks.