3885 days ago
I sense that Wessex Exploration (WSX) is lining up to provide an entertaining April for us all as rebel shareholders try to oust the board. My initial view was to back the board as the rebels appeared to be in bed with ex CEO Fred Dekker who is a prize arse as I explained HERE. But having spoken to Rebel Alliance commander Robert Milroy I am not so sure that the rebels should not be backed. Let me explain.
4210 days ago
Oh dear, I fear that I won’t be getting very many Christmas cards from the financial PR industry this year. My book on how many I will receive is currently running at 1-2 but on balance I’d be a seller. I seem to have offended yet another operative because I am not in the business of writing universally nice articles. Such is the self-importance of these folks that they think I actually give a damn. In for a penny…. Let’s examine the role of financial PR in the AIM Cesspit.
You may remember that I had a bit of a falling out with uber-prude PR bird Kay Larsen of College Group who seems to think that I have a thing against sheep shaggers, oops sorry meant to say Welsh people - not that any of them are in fact animal molesters - and also publish pornography. College Hill is now not returning calls made by staff at www.Shareprophets.com . Does this stop the 19 writers on that site covering companies daft enough to pay College Group £10,000 a month to manage its media relations? Not in the slightest. Does it affect our coverage? Er…not in the slightest. Companies who think that writing a cheque to some daft parasites each month means that they can manage how and where they are covered are just kidding themselves.
And so to my next fallout which is with YellowJersey PR, which makes me think somehow of custard and cowardice. Its gripe is that it represents Arian Silver (AGQ) where, on www.shareprophets.com I have flagged up its various funding issues like a failure to get a placing away.
In case you missed that scoop it appeared here
That is apparently not the sort of coverage YellowCustard’s clients want. I am sorry to hear that. And so
4365 days ago
PrintYesterday Tullow (LSE:TLW) announced that it had let its interests in Guyana drop. The press office at Northern Petroleum (LSE:NOP) has fielded a number of calls about how Northern was going to proceed with its drilling campaign in the area. Is this an indictment of how badly history is taught in schools or how badly geography is taught?
4373 days ago
Shares in both AIM listed oil stocks have slumped today. Northern (LSE:NOP) is off by c14% at 54.75p, Wessex (LSE:WSX) by 21% at 4.8p. Not a good day for either. The reason is that the Zaedyus-2 well in Guyane does not appear to have found commercial oil although we will not get full data for another ten days or so – logging starts tomorrow. Though I am a Northern bull I am in a sense vindicated as well ahead of drilling I argued that folks should take a pair trade: buy Northern at 67p and sell Wessex at a share price of 8.375p. If you followed that pair trade you would be a net 24% ahead. That is smart investing.
4373 days ago
I published most of this share tip article earlier on my Nifty Fifty website – where I shall publish a new share tip later today: The Zeadyus-2 well in Guyane has not found commercial oil and has been abandoned. The share price of Northern Petroleum (LSE:NOP) has duly slumped by 14% to 54.75p. This is a total market over-reaction. I have discussed this at length with exploration manager Graham Heard and CEO Derek Musgrove and here’s the score. The shares remain a buy. The same cannot be said for Wessex Exploration (LSE:WSX) which like Northern also has a 1.25% stake in this field.
4420 days ago
Shares in both Wessex Exploration (WSX) and Northern Petroleum (NOP) have moved ahead sharply in recent days. We all know why these AIM listed oil explorers are in demand. Drilling is underway of the Zaedyus well in Guyane. This might well be a monster and both companies have a 1.25% stake in it. But the respective valuations are now insane.
