Mick, I agree with your post. I think there will be a number of points like that were some people want to limit their exposure having been burnt. But in the same way I think a number of holders will want to see big returns for the investment, both financial and emotional from through the bad times.
Time will see but we have both been here long enough to know how quickly the Range rocket can take off.
I am in full agreement that breaking through 0.5p is a big step, I was expecting it to be a much tougher barrier as, from memory, it was a point of reasonably strong support in the past (not the most recent time it breached 0.5p). Would certainly be nice to close above this.
As you have said there are some good news items around the corner and as we know with Range there is certainly the potential for this to move reasonably quickly. People that have held this far are likely to look to hold out to their exit points. Given how far we have fallen I imagine, with the positivity moving back into the share, that some of the exit points are many multiples of where we are today (certainly mine is!) so if people are holding there should not be many shares to be passed around.
One thing that may be on the horizon that could be problematic could be the annual accounts depending of the level of debt incurred with LO. I am happy that the debt is being incurred as we need to spend the money to move forward, I just hope the figure isn’t too high for the limited success so far, but I am mindful with both waterflood projects soon to come online this could start to pay itself back pretty quickly.
I would also like to see the break even point based on the current POO. The POO has backed of around 20% since the highs earlier this year when we were losing c.$10 per barrel. But in a weird way, we appear to be doing better by producing less oil.
As I have said I am positive about the share and nice to see if we can hold the recent gains.
PS Celtic, I disagree with your manipulation talk. Also, given you appear to be a reasonably smart gent. Why would you post about a share being manipulated. Would you invest in a share that is being manipulated. Whilst I think boards have limited impacts as to people buying shares, they do have some followers, so are you trying to scare people off or justify your own holding being down. Either way, these sort of posts help nobody. Also your obsession with “a trader” seems unfounded as you never answered any of the issues I raised in a fairly reasonable post earlier in the week.
I hope it is a reasonable assumption that the millions of shares sold within seconds of each other as soon as we hit .5 were investors who had hit their pre-designated exit point. Unfortunately there will be quite a few similar sells as we climb back to a reasonable price. Fortunately this morning it doesn't seem to have held us back, a fairly insignificant amount taken against those shares in circulation.
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