Sacoil Share Discussion Threads

[warwick69] 10/4/2013 12:12

yes good points from you both but that should mean a good long term buy at this level anything below 2.2 seems good long term prospect...

any realy good news this really will spike?

but slow slow slow

[yorgi] 10/4/2013 12:08

I see it very much the same Bronislav. Basically it is hard to see why the hell we need such a large BOD all taking their inflated cut while progress towards the company ever producing any oil seems a long long way off !

[warwick69] 10/4/2013 11:47

just looked at some of todays trades and all these have been bought early and now sold positions closed and only two small ones madea profit.

22,974 32,858 (profit 9pips)34,994 45,011 47,666 77,788 (profit) 171,395 thats only obvious ones as 50 k and 100k trades harder to pair up but shows about 1 million of todays volume already bought and sold mostly for a quick loss ?

people dont have much patience when buying NEWS have not even got too lunch time.

[bronislav] 10/4/2013 11:41

warwick.i didnt seen any progress with regard to sacoils assets.congo stood still due to problems in that country,the two nigerian assets are no nearer and the only thing that seems to happen is switching debt and new board members and a finance director that lasted a month because he realised he was too busy.it looks to me that we have relinqueshed a third of the company for circa 2.5 pence per share with 500 million more shares added this is while we are owed cash from other companys.the only positive is gairloch have confidence to swap its debt for shares so it must see some value going forward.i may have read this mornings rns,s wrong and would be happy to be proved wrong.

[warwick69] 10/4/2013 11:32

why does this always happen news is released and it is generally seen as positive and share price rallies on high buying volume then it all starts to turn and panic selling starts and we end up at or even below before news was released.

It all seems only to play into the hands of the Market makers???


Now as volume subsised there is no liquidity?

[warwick69] 10/4/2013 10:43

well by looks of trades many jumped on the risng share price only to be jumping ship as the gains disapeared in the pockets of the MM's.

someone bout 171k at 2.17 only to now sell an hour later at 2.05 another failed day trade.

[bronislav] 10/4/2013 09:50

Raj.I lack of posts today reflects sentiment here.sacoil haven't even got the results of the additional chevron seismic which they i assume have had for circa 6 months.Vela,s presentation last year suggested to drilling at least one well by summer 2013.Today there has been a bit of interest early on in trading but I cannot see why and the sells are now coming in so perhaps back to 2p by day end.

[rajaster] 10/4/2013 09:20

half my portofolios tucked away.. could do with some to bloody move lol.

[bronislav] 10/4/2013 09:03

Maybe the share price is rerating to the price that we in effect sold a third of the company for to rid ourselves of debt ,yet we are owed money from EER and another company mentioned this am in the second rns.Sac could realise value for shareholders getting in at these lowly levels in time but this is a share that exists to make money for a few African accountants .I will tuck these away now and be pleasantly suprised if we get above 3p in this year unless the new seismic throws up something mind blowing.No drill this year imho but hope am proved wrong.

[yorgi] 10/4/2013 09:02

Soon have a board big enough for a FTSE100 company !

At least the market seems pleased with it.

[rajaster] 10/4/2013 08:57

bronislav..should have left your comment.. i missed the second gairloch news. only saw the other announcement. however issue of 488 million shares to gairloch at 2p.. in some part is good business but in other respects more dilution going forward.. so far market is likeing the news.
we may be debt free but how long before more cash is raised. i wonder what the new non execs will be payed to be part of sac.

[comedy] 10/4/2013 08:20

well looks like patience called for...back to sleep?

[yorgi] 10/4/2013 08:01

MM's marginally more impressed than I am !

[yorgi] 10/4/2013 07:58

I haven't had time yet to read it properly but on a quick read lots of words and little substance but maybe I'm missing something.

[bronislav] 10/4/2013 07:46

Any thoughts anyone?

[yorgi] 10/4/2013 07:42

My goodness, but not sure on quick read what to make of it. Doesn't seem they have have achieved much in six months but lets see what the market thinks.

[bronislav] 10/4/2013 07:21

Update as far as I can see has two things to look forward to.

Possible well drill this year on opl281 and soon to be released interpretation of seismic.

I may be missing something but it appears we have stood still for 6months.

It also appears that Gairloch owns 33 percent of the company at a premium to the present share price.

Also two more board members to pay .

[rajaster] 10/4/2013 07:20

we have an rns..my eyes are seeing things. i cam see whats going to happen on the open here

[yorgi] 09/4/2013 17:31

I hope your right Bronislav.....but I was not thinking of giving up at this time and selling :-)

[bronislav] 09/4/2013 17:28

Yorgi .Without going into any detail I think a little more patience re update and opl233 is not for sale.

[yorgi] 09/4/2013 17:15

Very poor show Rajaster......I have to say the way I feel now I'm somewhat questioning the wisdom of being in here ! Are the BOD doing anything or are they just taking the money and smiling to themselves ?

[rajaster] 09/4/2013 17:02

totally a dead board.. looks like all of us have given up on vela ever giving us any news anytime soon. seriously dont know how orgs think its ok to provide zero updates for 6 months+.

[bronislav] 28/3/2013 15:22

yorgi.africa gives one the jitters.