Cynical Bear covered Duncan Soukup’s Thalassa Holdings (THAL) previously on ShareProphets (see HERE) and concluded that it was not the bargain he first thought it was, highlighting a few oddities along the way. Not least of his concerns was that Thalassa – supposedly an operator in the oil and gas services sector – ended up with about a quarter of the shares in Local Shopping Reit (LSR)! LSR has been disposing of its holdings and proposed a Member Voluntary Liquidation to return the cash, which Thalassa blocked. Now Thalassa has launched a takeover offer.

I am not sure which Steve his is so cannot contact him directly. Thanks for the thought mate but is there, as you can see below, something you forgot? If you would like to be even more generous than Steve go HERE.

Is there anything better than sitting back and reading a well-written article on a lazy Sunday? Every week ShareProphets features some long form journalism that you'll find of interest. Grab your cuppa and enjoy these five articles.   

Yikes, it's getting worringly close to UK Investor Show time. Two weeks today, I'll be once again decompressing after the myriad speakers and exhibitors from this year's show. This will be the sixth UK Investor Show since its modest beginnings at the Excel Centre. (And don't go to the Excel Centre - it's at the much more convenient QEIICC in Westminster.). Incredibly it will be the nineteenth show organised by Tom Winnifrith.

Bears often pigeonhole duff companies as frauds, fads or failures as if they belong in one or other of these distinct categories. The truth is that quite often a fad resorts to fraud when it realises that it is a failure. The most obvious example of this right now is Tesla. But there are others.

I start with a recount of what is my longest training walk yet as I build up to the 33 mile Rogue Bloggers for Woodlarks stroll on May 25. As you think of me wading through mud and dog pooh, gosh I loathe selfish dog owners, please make a donation to this great cause HERE. Then I look at Interserve (IRV) and dumb bleaters and at Metals Exploration (MTL), Tim Blackstone's fave hound, and why its latest bombshell surely calls for a change in the AIM casino rules when it comes to Nomad Resignations.

Another day and another small piece of what will be an enormous jigsaw falls into place.

There are always many different shares to write about but I am surprised that i have troubled these pages with my thoughts on the Prudential (PRU).  As a self-confessed investment geek typically focused on longer-term themes and trends, there are few corporate names in the FTSE-100 as well set up as the Prudential with its growing exposure to the burgeoning Asian insurance market, a region where the last ten year renewal premium compound growth rate for the company has been a cool 18% and profits have grown even faster.

If there were any prizes for being the worst performing company at the lower end of the market, then Canadian Overseas Petroleum (COPL) would definitely be up there as one of the contenders.

AIM-China Filthy Forty play Origo Partners (OPP) has sacked its investment adviser “for cause”. Origo has been a total disaster for its investors, but a great wheeze for the investment adviser as you can see HERE: while shareholders have lost almost everything the adviser, Origo Advisers Limited (OAL), coined it in fees, bonuses and so on. You might wonder what took the company so long, but until recently the board was dominated by its investment adviser…..and then along came hero of the hour Mr John Chapman.

I first warned about Interserve at about £1 back in October 2016, warned about it all the way down ever since and made it my sell tip for 2019. Today at an EGM, shareholders – as I had expected – voted down a debt-for-equity swap in which they would have retained 5% of the company. The shares were suspended immediately and at 2pm it was announced that the board will apply to the High Court for the company to be put into administration. In short, it is a 100% wipe-out for shareholders – and time for an Ouzo at Deputy Sheriff Towers.

I have not minced my words with regards to today’s shocking pump and dump by Bahamas Petroleum (BPC) as you can see here. But the City’s No 1 oil analyst, Zac Phillips of SP Angel worries that Bahamas may not be out of the woods yet although its assets look good. The great man wrote to his clients today to say:

I apologise for the RedT (RED) tip it shows the arrogance and incompetence of AIM boards at their worst. Is it more fecked than Inspirit (INSP) or Motof Bio (MTBF)? I look at all three and also at Bahamas Petroleum (BPC).I f you enjoyed this, I think, relatively profanity free bearcast, follow a bloke from the Grim North who donated enough to buy a whole house in the welfare safari and support the Rogue Bloggers for Woodlarks HERE.

Bluebird Merchant Ventures (BMV) has announced that the application for the 'permit to develop' the Kochang Mine has been submitted and updated on other timescales…

I see that Neil Woodford has had an interview published in the FT in which he lambasts critics determined to destroy his reputation, misinformation, lazy commentary, fake news, fake analysis which “pisses me off” and vents his frustration at the poor investment decisions of investors selling up.

Berkeley Energia (BKY) has announced results for its half year ended 31^st December 2018 including that “outstanding items” re. a permit “have been previously disclosed and are currently being addressed by the company”…

A month ago shares in cash strapped Bahamas Petroleum (BPC) traded at 1.2p which was probably generous. for this company has struggled for years to secure the farm in partner it needs to drill its acreage in the Caribbean. But then things started to happen.

Anyone who points out how the Financial Times is always on the wrong side of history when it comes to the EU must be a good guy and that brings us to Tim Martin of JD Wetherspoon (JDW) announcing interim numbers today who opines:

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2018 and thus far in 2019 (by net short position %, those in bold not on the list at the start of 2019) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...