No one is ever "locked in" to a share and think very hard before averaging down. And don't pay any attention to someone with 2 postings who thinks the future's bright. The future's not bright for ANY oil company unless OPEC change their tune.
We know where this company is heading.....Lets look at what they plan. We have Cameroon due to take effect next year 2016, we have a follow up from Kenya again next year in 2016. We have prospects in South Africa due to emerge late Q4 of next year 2016 and we also have keen intresest in the analytical readings from Namibia. Namibia is the is unknown, do they go deeper???Do they sell results???Do they sell stake??? This share price is on its Ar$e and can go any lower than it already it. It need a consolidation, and drilling prospects to develop which is next year. Some intrest was seen by the big player hence the 5 Mill placement recently. One this is for sure, im locked in here with a 2.2p average and i intend to ride the very, very long storm.
To be honest I really dont know which direction this company will take... Financing explorations is the easy part but getting results and acting properly in accordance with all research seems to be the hardest bit for this company. Its done it before and I'd like to think they will pull a rabbit out of the hat soon. Financial accounts are not looking to good however the cash balance is positive and will allow us to seize opportunities but its up to the bod which opportunities they deem to be profitable. GLA
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