With it being two and a half times over subscribed, as i said yesyerday, I reckon that institutions are behind some of this major buying in the open market.
The reality is that in three months or so these could be worth £4 - £5 per share on updates from the drilling at West Med. Don't underestimate it. The potential is £10 -£30 imho.
Look at Max Petroleum. They havent drilled a thing nor have they even a resource estimate on anything - zilch!. The institutions bought all the way from the placing at 35p £120m mkt cap, went into the placing again at £1 and a market cap approaching £350m.
Don't give your shares away here. The directors buying after the placing at 105p shows serious confidence.
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