News out today from some of the sharehub heads-up stocks. First up is AMER. News out a few minutes ago confirms another Non-exec Director buy. This time it is Dana Coffield with a share purchase of 151k shares at 19.77p. That’s his first purchase so bodes well when taken in context with the other non-exec and director buys of late. Certainly looks like the ‘insiders’ at AMER know better times are ahead.
Next up is PANR. Pantheon have been fighting with VOB#2 well for sometime now and today is perhaps the first real acknowledgement that this well is not likely to contribute very much at all. Disappointing as the workover rig is not cheap and the company could have avoided unnecessary cost expenditure. That said, the good news in the release is that VOB#4 sidetrack is underway and should be ready for testing (if successful) within 30 days or so. PANR have disappointed investors with delays – some out of their control and others very much within their control. News that gas should begin flowing into the pipeline come Mid Nov will be watched closely. If they manage to hit guidance (once this year would be welcome) then Gas sales / income should come in around end of Dec or early 2018. Thereafter, it’s a question of capital spend vs cash flows in terms of whether the company is or will be self funding going forwards. I don’t want to be too harsh on PANR as it has been a tough year for the business. But it’s time they delivered on their promises to shareholders and that will hopefully begin in Mid Nov.
Last up is WRES. W Resources dropped a Holdings RNS into the market showing an interest of 3.3%. Normally I wouldn’t comment on shareholdings but this one caught my eye as WRES does not get many Holdings rns’s over 3% and this one looks like an individual rather than an II/fund. Mr Marcus Garvie is now the proud owner of 156m shares worth approx £600k at today’s sp of 0.39p. WRES does have a bit of news queued up on funding and contracts due so it will be interesting to see whether Mr Garvie’s share purchase is ‘timely’ or not. Of course, no guarantees that any funding solution or contract news will flow. The company cited before end of Q4, so a little time left yet.