How insane is this even by the standards of the AIM Cesspit? In late August this year I exposed how Sheikh Ahmed Bin Dalmook Al Maktoum had invested in a placing by what was MX Oil (MXO) got it to change its name to ADM Energy (ADM) in his honour as he became President, saw the shares rocket, and then sold all his shares before announcing he was quitting sending the shares crashing from 20p to 4.5p today. Wind forward to November 28…
Oracle Power (ORCP) seems to have become popular all of a sudden and has seen its share price rise by around 80% in the past week, but as usual some on the bulletin boards seem to be claiming that it should actually be worth many multiples of its current valuation.
If you want me to analyse a stock for you just drop me a line at email@example.com - Today I look at shares in Oracle Coalfields (ORCP), Petroneft Resources (PTR) and Sound Energy (SOU) and setting share price targets for all three stocks.
Shahruck Khan, entrepreneurial chief executive officer of Oracle Coalfields (ORCP), says he is now ‘working towards financial closure’ for the company’s $1.5 billion (974 million) project to develop a potential 1.4billion-tonne lignite (brown coal) mine and 600-megawatt power station in south-eastern Pakistan, following a key consortium agreement with Shandong Electric Power Corporation (SEPCO) of China.
Shares in long-unfavoured Oracle Coalfields (ORCP) have been winning some new friends in the wake of acceptance by government of Pakistan’s Sindh province of the company’s pricing petition for its 1.4 billion tonne brown coal (lignite) project in the province’s Thar desert. Shahrukh Khan, entrepreneurial Chief executive officer of AIM-quoted Oracle, argues this acceptance, which will still needs federal ratification if the Sindh government approves, amounts to a ‘green light’ for the projected first phase of the project, which envisages producing four million tonnes a year to feed a 600-megawatt power station for the electricity-hungry region, at an initial price for the lignite of $76.48c (£49) a tonne, subject to later annual review.
Shares in Oracle Coalfields (ORCP) have been bouncing strongly as the AIM-quoted company puts significant problems behind it and gears up to take its ambitious $1.3 billion (£803 million) lignite mining and power supply project in south-eastern Pakistan’s Sindh Province to development during 2016. Entrepreneurial chief executive Shahrukh Khan, an experienced project financier, declares ‘this year could be the game changer’.
Shares in bombed-out Oracle Coalfields (ORCP) have bounced on confirmation that the company has had its mining lease over a lignite (brown coal) deposit in south-east Pakistan’s Thar coalfield potentially holding more than a billion tonnes reinstated by the government of Sindh Province. Entrepreneurial chief executive Shahrukh Khan says AIM-quoted Oracle, whose shares fell from a 10p float price in 2011 to a recent low of 0.37p before rallying to 0.9p, is now talking to major potential Pakistani and Chinese partners about putting together a $1.3 billion (£840 million) project funding package.
Pakistan may seem a politically unstable country in a dangerous region, mired in debt, religious extremism and cronyism, but Shahrukh Khan, entrepreneurial chief executive officer of Oracle Coalfields (ORCP), insists it is a land of promise with a buoyant stock market. He points to the successful completion of a $2billion Eurobond the other day as evidence of this and that Pakistan’s 180 million people are crying out for an end to the chronic electric power shortages which, he argues, provide a potentially lucrative opportunity for AIM-quoted Oracle.
One of the best technical / charting signals around, and one that is still relatively obscure in terms of trader / investor knowledge is the unfilled gap to the upside through the 200 day moving average. This is wha we were treated to at Oracle Coalfields (ORCP) in September after an extended base over the previous year between 1.50p and 2p.
Back on the Cesspit AIM market I see that the biggest faller today is Oracle Coalfields (ORCP) whose shares are off 13% at 1.55p valuing the company at £5.01 million.
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