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Bizarre lack of action in the US shares. Lots of buying in Australia as the shares inch closer to an all time high. I really wish these guys would post their news releases on US news sites. Also, it would really be helpful to uplist and get off the Pink Sheets here so that the shares would trade in a more orderly market. These huge spreads are BS. The MMs are doing all they can to tamp down the stock action. I have been trying to load up at favorable prices, but they aren’t even posting my bids.
Back to .02 in Australia, very near all time highs. The MMs are playing games with the US shares. I have had buy orders in all week that never appear on the ask. They are keeping that massive spread on hoping to shake some shares.
That would be huge! Seems like a real possibility also.
We should see several updated interpretations of the 3D in the coming weeks and months. The real fun will begin when WDS exercises their option and they start to drill.
Not sure why the US shares are still in the dumps. Looks like someone was playing the news and when it didn’t come before the end of August, they got stuck. The shares have recovered in Australia and are not far from the recent highs.
The future looks bright.
I love the section from the presentation documents where they ask the questions if Pel 87 is Africa's largest Oil Target. After there initial review of the 3d, they clearly still think it might be.
Hey Doug, good news from Australia. The company posted news and did an investor presentation yesterday. I posted the written portion in my previous post. At the meeting they apparently said they are excited about the early results from thh 3D (So they are not negative as some have speculated due to the falling stock price last week). They also said they fully expect Woodside to exercise their option and for the company to start drilling as early as the 1st quarter of next year. They have plenty of money on hand so they won't need to do another cash raise until they have to help fund the second drill. The stock rose to .019 on the ASX.
Some news out. They are making a presentation to an investor conference.
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvTDYL4gi6zxH%2Fv%2Bd687FiGug%3D
They have received the 3D and are evaluating. Hopefully they can stir up some buying interest from the institutions.
The good news is that buying resumed in Australia yesterday and the price is back up to .018. Hopefully last week’s action was just one trader nervous over the news not being reported in August and we will see another rise this week.
Not sure what you mean. US accounts trading shares on ASX and both volume and price are reported on the US exchange? Not sure I agree with that. Aussie shares have plenty of bid support. They never went below .016. The 500k reported on Friday premarket were at .0104.
The 2 million share dump from the previous day were during market hours. I watched the trades go through and they took out the bidders on level II. Looked like a market order, which fills at any price. Most traded at .0037, down over 80% from the previous trade. A limit order would have filled at .01 or so.
That 2 million share sell yesterday, mostly at .0037 was crazy. Had they just sold with a limit order they probably could have averaged over .01.
Terrible trade. Looks like they sold in a market order at .0037. I wish I would have had a big buy order at that level. Bid is already back to .01. If the 3D results were that bad, the Aussie shares would be seeing massive volume and a huge move down. They are off their all time highs, but not substantially and the volume has been very light over the last week or so. The big investors trade shares in Australia, not the U.S. The the U.S. share action usually means nothing. If the Aussie shares collapse, then worry.
The German shares traded even for the day, as did the Aussie shares. I think we just have a US investor that needed money and dumped.
Management commented a month ago that 3D doesn’t contradict the earlier 2D, which was very positive. Sintana commented that they expect not just a WDS option exercise, but a 1st quarter 2024 drill. Hard to imagine things have changed that dramatically in a month or so.
Would love to see a spike to .06 here, on good news. If we get a Woodside Option announcement, I think .06 is definitely in play. Not much resistance left in the stock. One seller at .028, another at .04 and then the next at .10. Could be some hidden sellers out there, but not much showing on Level II right now. I really hope they release the news before the holiday weekend.
I guess when they said “the end of August”, they meant it!
Nice move in GRHI on merger news
Someone bought 25K at .0251 today. Anyone hearing anything about CORG?
No. They only file annuals every October
Doug, yes, I will post it here. I would imagine there will be several news releases over the next few weeks and months as they will continue to analyze the data and work out a drilling schedule, assuming WDS chooses to go forward.
Seismic results are due next week. Next step is a Woodside option exercise
Another positive article about Namibia-
https://oilprice.com/Energy/Crude-Oil/Is-Namibia-The-Next-Guyana-For-Oil.html
Someone hitting the .025’s for 70k.
Honda, those share figures are wrong. The company had to amend the 8-k to reflect the correct share count. They made an idiotic clerical error, which tanked the stock. If you go to OTCmarkets, you will see that total shares outstanding are actually only 26.5 million.
Solid buying today. Very little resistance until .10. This stock was over .40 a year or so ago.
AI? Now your talking. The market seems to like this news.
Once the news starts flowing later this month, volume should increase dramatically and the spread should tighten. The stock action is just noise until then
Getting close. Just two weeks to go in the month. Seeing some more buying today above .02.
Good to see the .023’s taken out. There is some size at .028 and then little showing above. Bring on some news!
The stock is back to .02 in Australia, a good sign. Nice to see it rebound strongly after that profit taking.
Someone just bought 200k at .019. There has been someone trying to sell that 200k for a week, pushing down the ask price. It is good to see them filled and out of the way. Also good to see buyers at .019.
We have to be getting close. Just a few weeks to go in August.
Anyone holding ATBHF? 3 Huge Copper discovery announced in the last week. Stock is running, at a new 5 year high.
Looks pretty good to me. The stock has traded at or below .01 consistently for years. Now we are getting regular buys from .02 to .028. Just need some news to push it to a new level.
With an announcement coming this month, we will hopefully see continued buying. It is good to see the stock trading consistently at these higher levels.
Another heavy volume day in the Aussie shares, with lots of buying over .02. Was hoping we would see another push higher here today, but someone sold 10k at the bid to send us slightly lower. Hopefully next week will continue the move higher.
Looks good. Hopefully someone will slam the high .02’s like yesterday and we can move higher
Wow, someone just bought a million shares at .028, for $28,000. That has to be a good sign!
Only 126k shares posted between .019 and .04. Hopefully good news will blow through those shares.
Another strong day in Australia as PanCon hit .022 on heavy buying.
Anyone else have any guesses on anticipated share prices? I am guessing .05+ by year end, leading into drilling, assuming a favorable or upside surprise seismic and Woodside option exercise.
The company said recently they would be announcing the 3D results in “early August”. So I would expect something in the next two weeks. WDS can announce their decision on the option at any point after the 3D release. They need to secure a drilling rig, so hopefully they will decide and announce in the near term. An exec at Sintana, who is a minor player in this deal told a PCOGF shareholder in an email that WDS had already decided to exercise the option. Hopefully that is true and they announce soon. Who knows where the stock goes. I guess it depends on what they announce. The US shares are very thinly traded, so they could really spike if we get some highly favorable news. We just have to wait and see. I don’t offer financial advice, just speculation based on what I have read.
Nice. After .028 there is nothing until .10. Hopefully we get a Woodside option exercise on top of the seismic report. They need to be securing a rig in advance, so hopefully they have already made the decision to move forward as Sintana said and PanCon implied.
Shares closed at .021 in Australia on 40+ million shares traded. It is rising every day in anticipation of news.