Today’s added large weights on the Bid (60,000) and Ask (342,000) are on the Book to push the Spread/Price down to a point, IMO that values GKP based on the present Brent Oil Price.
That is because a Lower Oil Price effects GKP’s Earnings, which are part of the Fundamentals Oil Company’s Market Capitals/Share Price are calculated on
The following are the large Bid Ask Weights since Brent peaked on the 16th September because of the attacks on the Saudi Oil Installations.
16th Aug . . . Bid 102,000 . . . Ask 100,000 . . . Brent $68.42
17th Aug . . . Bid 80,000 . . . . Ask 100,000 . . . Brent $65.49
18th Aug . . . Bid 80,000 . . . . Ask 130,000 . . . Brent $64.29
19th Aug . . . Bid 90,000 . . . . Ask 130,000 . . . Brent $64.25
20th Aug . . . Bid 80,000 . . . . Ask 130,000 . . . Brent $65.23
23rd Aug . . . Bid 80,000 . . . . Ask 110,000 . . . Brent $64.66
24th Aug . . . Bid 80,000 . . . . Ask 140,000 . . . Brent $64.13
25th Aug . . . Bid 90,000 . . . . Ask 160,000 . . . Brent $62.41
26th Aug . . . Bid 100,000 . . . Ask 280,000 . . . Brent $62.08
27th Aug . . . Bid 110,000 . . . Ask 292,000 . . . Brent $62.48
30th Sept . . Bid 110,000 . . . Ask 252,000 . . . Brent $60.99
1st Oct . . . . .Bid 85,000 . . . . Ask 292,000 . . . Brent $57.92
2nd Oct . . . . Bid 115,000 . . .Ask 312,000 . . . Brent $58.01
3rd Oct . . . . .Bid 60,000 . . . .Ask 152,000 . . . Brent $59.13
4th Oct . . . . .Bid 115,000 . . .Ask 220,000 . . . Brent $59.46
7th Oct . . . . .Bid 110,044 . . .Ask 282,000 . . . Brent $58.36
8th Oct . . . . .Bid 65,000 . . . .Ask 252,000 . . . Brent $58.85
9th Oct . . . . .Bid 60,000 . . . .Ask 332,000 . . . Brent $58.05
10th Oct . . . .Bid 60,000 . . . .Ask 302,000 . . . Brent $58.16
11th Oct . . . .Bid 60,000 . . . .Ask 342,000 . . . Brent $60.43
From the above one should be able to see that the reason behind the Large Weights being placed on the Book, which are changed by a human being/s, closely correlate to the changes in the Brent Oil Price, are placed on the Book to move the Spread/SharePrice up or down.
Being part of the FTSE Market GKP’s movement is also effected by the FTSE 100, but I’ve left that data out because its damned difficult to go back to add the Data because of the format this Forum now has.
The Barc Duo are still sitting on the top of the Bid & Ask both soaking up AT Sell Market Order’s and turning round their Buys by Selling them by Limit Sell Orders via the Ask, plus BMCM and ARDA have been doing the occasional Buying reselling their Buys through the Bid
So in my opinion, the GKP Share Price and other Oil Co’s Share Prices have been falling a little bit because of the FTSE100 falling, BUT “principally”, because the Brent Oil Price has been falling, and while BMCM & ARDA have been buying the occasional AT Sells, I’ve now concluded that neither are processing Orders of large magnitude.
Yesterday the Lowest trade was @ 209p AT, and “today so far” it has been @ 210.5, so the Shared Price “may” have bottomed, but remember the Market can flip at any time.
I am providing the above data to assist the reader in reaching their “own conclusions”
behind what the Large Orders are doing on the Bid & Ask, and the reason for the current downtrend, plus adding my own take on the situation to assist the reader.