big share purchase, page-12

Hi Dealing, from 17.5% up before the news flash we ended the day 2% down. The share price rise was insufficient for the company to have to release news so can only assume their Nomad (nominated advisor) in the UK (who also were their UK broker until a few days back) made them put it out to get their own back at being dumped as company broker.

Found the following on a web page from the UK. This may have been part of the reason for the early day rise.

Rheochem, a supplier of drilling fluid that has stakes in oilfields, including the Athena field in the North Sea, rose 0.34p to 6.47p amid talk that it may soon agree the sale of a field for about £5 million, boosting its cash pile to £12 million. It is also in poll position to win a giant new contract with Santos, the Australian explorer, which is its biggest client.