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Not only debt taken care of a 5Th large investor just ploughed approximately £520,000 of working capital in

lse:rrl

#1

Subscription of 5th large investor taken up at 2.21p / ordinary share equal to 20% of the company shares in issue .

The BOD did say they were excited for the future of Star Phoenix , clearing debt , acquiring working capital opens a lot of doors . Would like to have seen the shares issued at a higher price but then the sale of 4 drilling rigs was held around longer than anticipated before being pulled . More news to come no doubt .
https://www.ii.co.uk/news/subscription-and-total-voting-rights-rnsLSE20200120144549_14391089


#2

placing shares taken up by our 5th large investor at 2.21p /share and Market Makers take the Market Cap off at a gallop . Well I couldn’t resist cashing in 2 of my 3 tranches , one tranche sold at 3.055p /share the other at 2.6675p /share . Nice to see a 40% clear profit on one of my tranches with the belief Market Makers will do what they always do ( drop the ASK approx 5% below the last placing price ) . Could have sold all three tranches but held on to the third since there can always be an exception to the rule .

There’s no cause of alarm to trade these spikes on low volumes since Star Phoenix is a cash positive shell of a company or soon will after STA’s Trinidad - LandOcean deal has been signed off . The placing shares add capital to the cash reserves STA already have , the sale of the 4 drill rigs has yet to happen and that LandOcean deal to be sign off has a US$2.5m cash part to it . Further bolstering STA finances which makes me hope selling 2 of my 3 tranches was a good move . … hum … fundamentals look much better than current Market Cap . Lets just hope STA is still off peoples radar until I get those trading tranches back … hey .


#3

With quarterlies due I decided 2.36p /share was good enough for me to buy some STA shares back . Quarterlies will take any unknown off the table and since production was increased previous quarter there’s no reason not to expect good results this quarter especially with W.T.I. futures putting a barrel of oil in high US$50’s during quarter .

With the Market Makers working hard to keep the Market Cap below £3 m with their multitude of minuscule trades it’s worth remember Star Phoenix Group is soon to be debt free with cash in the bank along with many other assets that appear to have no fundamental value according to the MM’s … oh aye , drill rigs , service rigs , etc …