agree eegbvi, see no reason for SP drop today of 5%, no negative news, just could be an auto as you say, nasty MM's triggering a stop loss to get some cheap shares, good buying opportunity again, I am topping up at this price GLA
thanks for the good info. considering the amount of cash on the balance sheet of rkh they are a better investment then alot of oilers. once the sentiment changes and oil gets past 60 dollars again we should see some takeovers and some good increases in share prices
RKH will likely drill only one more well in 2017 and that will be with PMO to prove Isobel. It now has positive cashflow from the Italian business and will soon have more from the Beech Petroleum deal in Egypt. It has also applied for more Falklands NFB blocks. As to drilling looks like Noble/Argos will be next there assuming they get an extension from FIG (about Oct) leaving the Isobel proving well to after that. Re PMO I really don't know why people keep worrying about it as come Q2 next year its loans will be ok on the back of a higher oil price. Meanwhile over summer the RKH SP will likely drift with the lack of investors due to holidays. Its your choice but at around this price I don't see you losing money. Good luck !!
How do folk invested here see rkh future playing out? is this now based all on hope of a takeover to get falklands into production at some point? Does anyone here beleave that PMO will ever be able to finance falklands production? One positive is the slow cash burn as long as RKH don't do a FOGL and waste a fortune drilling more wells. Oil price recovery is very very slow and there will be some companies in trouble next year once the hedgeing runs out. Looking to invest a few quid here so any advice would be welcome
guys I wouldn't worry, all oilies basically same at the moment, I look upon it as buying opportunities, it is simply sentiment against oil at the moment and really for not any good reason. The keep harping on glut, glut but fact is inventories dropped 9 weeks in a row, soon that sentiment will change from bearish to bullish and off SP will go again Patience and more patience is the key, the markets love scared PI's selling their shares cheap, that is why they are called "tree shakes" to shake out those type of investors and then their shares hovered up by big boys at discount. If you are a day trader basically tough! medium to long term keep the faith, if worried don't look every day ;-)
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.