There can be no (rational) counter-argument. The current SP is dictacted by accounting for all known information about the company, plus percieved risk vs. reward. Anyone with half a brain can work out that Max will more than likely ultimately book between 30-40 million 2P reserves and also that NUR-1 will likely be a failure. Therefore the current SP is 'right' for where we are now - the company is not undervalued based on what we know. If it were the SP would rise to the 'correct' value (that's how the stock market works). In order for the SP to increase several key things would need to happen, e.g. funding for and successful completion of NUR-1 (unlikely) and/or maturation of shallow drilling program (probable, but will take years). Take-overs etc are not likely for years either. Most likely scenario for us is that we will linger at the current level for years (2-3 at least). Maybe worth 8-10p ultimately but it's gonna be a long haul to get there, and even that is not guaranteed.
I appreciate many are hanging by their high teens purchases, and I too was caught in that ii wake of promises.
Every time I have funds, and every time it tinkers round this price I've topped up, which some may agree or disagree with that strategy, but now I sit on a 6.2 pence average.
I don't like to chase a 'falling stone' by constantly averaging down but no matter what happens from here onward there can be only upside.
It's difficult to slide further based on what we have considering we're self funding, albeit whether we're denting the debt or not not is another story, but I can only see a positive resolve whether its taken over or chipped away.
Either that or my funds are chipped away and I lose my soul to Max.
Reasonable post , I'm just too numbed by this share and others to comment. Anyone else prepared to take up the cudgel with a contra argument? You may well be right old pal , seems we will have a terrific struggle just doubling and making 8p when you consider the market cap that would produce. More likely to get a cheeky Dragon bid for 5.5p upped to 6.5p when the institutional holders insist on a higher bid. And yes I've been shafted before the same way , you'd think I'd have learned my lesson by now.
10p by Xmas (7 weeks) would of course be great, but realistically we would need some significant news to jump over 200% in such a short space of time, I just can't find any news due that would offer this type of increase, unless you know something I don't? Given max tanks on oil discoveries etc, and found oil several times in 2011 and proceeded to start at 20p and end at 10p over the year, I find it really hard to believe anything will get us to 10p in the next 50 days , all too often we have increased revenue production flow rates, but we never move upwards ins good sustained manner, I feel this time will be no different , even with the imminent dragon oil take over or farm in, again I feel dragon oil scenario is far from reality and just the tumbleweed inside someone's head , and if someone wanted to farm in, the have had over 15 months to shout up .... Why is no one remotely interested , again I feel us shareholders will gets shafted yet again with dilution, hope I'm wrong of course . With the amount of shares in issue we will nearly be a debt repayment company for next 10 years, as the shallows just cover essentials , I would say max target would be 10-15p over next 5 years . Don't forget for max to be worth 25p, 50p, 100p, our enterprise value/market cap would have to be quite ridiculous given what we actually produce / owe
I'm not too sure of what the black coloured trades mean. Possible an exchange between ii or market makers. If a sell I would have thought it would drop quite a bit further. There was a similar scenario a couple of months back with a 12m trade and it was UBS upping their stake. Who knows!
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