It is a strange old world and I gather that some folks reckon that there is a bid on the way for AIM listed oil exploration penny share Wessex Exploration (WSX). I bet you 5000 Albanian Lekke that there is not and as such I would rate this stock, at 7.3p, a sell. If you want exposure to Guyane (the only real asset of note in Wessex) I would obtain it by buying AIM listed Northern Petroleum (NOP) at 67.5p.
On 26th March Wessex received a bid from Total at 10p a share. The company said that it was minded to accept. On 12th April Wessex said that having consulted some shareholders it had decided the offer was not good enough and walked. My sources tell me that Total was livid.
On 10th July Wessex managing director Frederik Dekker sold 5 million shares (leaving him holding c92 million shares) at 6pRead the full article on TradingResearchPoint | Comments