Fox Davies Capital have all but completed the much awaited Placing which is rumoured to be of an institutional nature. The offering was over-subscribed with new institutional investors competing for a slice of GKP’s sub 80p shares, with discount, which have been quickly gobbled up by existing and new institutions.
JV talks between Hunt oil may very well be ongoing as we speak as GKP gear up for Shaikan2,3,4 all sites have been chosen with Shaikan2,3 completed and awaiting the Weatherford rig while GKP await its release.
The seismic data currently being evaluated as it comes in may very well indicate recoverable OIP higher than now estimated on Shaikan.
NEWS this week is my own personal opinion based on soundings from the city.Pressure is building for news here.
An RNS is more than likely once the whispers take hold this week.
Expect a 150 hundred million plus share dilution.
Daniel
Presumably a placing would knock the SP while the new of JV, seismics and choice of Shaiken sites would push it up. How do you see the nett effects on SP?
Stig
Thanks Dan, sooner the better to put an end to the rumours once and for all. My preference would be to issue preference shares, but all will be made clear soon hopefully
regards
steve
Hi Dan,
Things are certainly hotting up over at GCM resources, have you heard anymore rumours regarding mining approval / takeover etc..
With the coal policy expected shortly I can’t see these bargin prices lasting much longer with this stock.
Regards,
CP
Hi Dan,
Great news that you back on your feet, also just wanted to thank you for the site, I’ve always found it very helpful.
Am I right in thinking this type of placing doesn’t allow PI’s to get a slice of the cheaper shares? Also I am in at 89p and presumably the dilution will hold back the SP? what are your thoughts mid/long term?
Thanks
jab
Yes your right.
Any dilution usually has an adverse effect on the sp. However i think that after the initial shock the sp should benefit from the uncertainty being taken away. Expect a rise.
Daniel
14 photo display on Nostra Terra website, showing the CEO Matt Lofrgan and CEO Doug Hewitt plus tanks, wells.
Nothing too dangerous for those of nervous disposition, Dan.
Dan any thoughts on the Express article ref HOIL?
regards steve
Just want to say what a great blog you got here!
I’ve been around for quite a lot of time, but finally decided to show my appreciation of your work!
Thumbs up, and keep it going!
Cheers
Christian, iwspo.net