3385 days ago
In today's podcast I start with oil stocks and oil prices and discuss why I would not touch any of them with a bargepole - particular mentions of Tangiers Petroleum, Falklands Oil & gas, Rockhopper, Igas, Northern Petroleum and the rampers of Mosman Oil & Gas. I then move onto Quindell discussing whether my 0p target is too low.
3597 days ago
I had lunch yesterday in Bristol with an old pal from the oil industry. A few months ago his AIM listed company tied to raise a few hundred thousand pounds and boy was it hard work. The other day he raised well over a million quid and he said he could have done it twice over. Has anything changed with his company? Not really. This is just sentiment.
However, I caution that this is not a change that has affected all oil stocks on AIM. The bigger more cumbersome plays have so disgraced themselves with executive greed (I think particularly here of the pigs on the Northern Petroleum (NOP) board awarding themselves bonuses after racking up record losses) and operational failure in recent years that they still cannot be forgiven.
Instead it is the tiny pure exploration play with no pretention of becoming integrated E&P’s that are flying. Mosman Oil & Gas, Tangiers Petroleum, Astar etc have all raced ahead in the past week. Mosman actually found something with the other two it is just anticipation and in the case of Astar bogus RNS releases. What exactly has Mosman found? Well we do not know, but the mood music now is “buy quickly, ask questions later” which is a total change from a few months ago.
Having been a no-go area for years UK onshore is now suddenly hot once again – hence excitement at UK Oil & Gas (UKOG) – where RMPC owns shares - and
3618 days ago
Even certain advisors to AIM and ASX listed Tangiers Petroleum (TPET) have started to call The Sheriff of Aim to express their concern as to the way it communicates with investors. Well hang on fellas, are your long suffering UK stockholders on the AIM Cesspit about to get another kick in the Gonads?
Tangiers, you will remember placed stock with flippers and other City spivs at a discount to what mug punters were paying just a few days ago on 13 May – it raised $5 million. Its next trick was to promote an article via an ASX release by a tipsheet which made up bogus facts in a classic rampathon. Natch, many private investors rushed in overpaying for this POS stock as the shares raced ahead. In promoting an article packed full of lies, Tangiers disgraced itself.
3618 days ago
Where do you start with the new posterboy of the AIM Cesspit, Tangiers Petroleum (TPET) and news yesterday that it has increased its fundraise from A$5 million to A$9 million? The whole thing stinks.
The original fundraise was announced on May 13 2014. Move forward a week and a report appears on an Australian website Nextoilrush claiming that investors have a 20% chance of making 100 times their money. The report was riddled with grotesque factual errors as James Parter revealed HERE. It was a disgrace.
Over in Oz, Tangiers did not issue an RNS to say “Comment on press speculation – this report is full of errors and should be ignored”. Instead it issued an RNS driving investors to read this report.
The key point here is that Tangiers paid hard cash to have this report issued.
3627 days ago
James Parter revealed some quite disgraceful ramping of shares in Tangiers Petroleum (TPET) yesterday. His analysis was superb and shows why an Australian website was publishing plain untruths about this dual listed company. I suggest reading his article here.
That website then garnered publicity for its shit analysis by paying various UK website owners so send out a promotional mailing. Websites like this, ADVFN, etc are free to access and we therefore run a business model based on allowing financial services companies to send mailings to your mailing list. You know we have to pay our writers somehow!
I am embarrassed to say that OneFreeShareTip – an excellent website we run in partnership with ADVFN ran this mailing. The mailing was sold by the team at ADVFN and we have discussed the matter and they will not be selling to this client again for OFSTD. That is an honourable call by them and the right thing to do. But for what happened I apologise most sincerely. Anyone can offer words as an apology but although it was nothing to do with me, I want to show that I mean it.
I do not wish to make a cent out of this episode as I regard it as an unethical aspect of crony capitalism and so the portion of that sale which RMPC earned will be donated to the excellent Woodlarks charity.
Next we come to the Australian web site company
