upcoming oil conference ? next week ? any one know about it...
thebroker 15 Oct'14 - 16:40 - 25448 of 25448 0 0
for what its worth I heard that there is a conference due somewhere in UK or Ireland in the next week or so at which Providence are making a major announcement. I can only assume this is to do with Barrryroe and a farm-in.... Any thoughts anyone... It would tally with his recent remarks at theh AGM that the announcement was imminemt
The suitors also will acquire producers now instead of risky explorers. For instance, Dragon Oil bought Petroceltic recently. But Petroceltic is a producer. I have not seen a deal with an explorer over the last 5-6 months.
There is quite a lot of news on the horizon. Surely, one of these will be positive:
- Siekirki, Rawicz - appraisal/production ready - cashflow to fund company makers - Karpaty 3 well program, low cost exploration to fairly rapid development if successful - Sidi Moussa - frontier exploration 20% chance of good result, even company making at top end of outcomes - Lewino new partner, and horizontal frac - hopefully still a company maker - Barryroe NPI - decent cash injection on farm-out completion funds company makers
(Thanks to fair-value on the iii bb for the list.)
Will be surprised if this doesn't fall 10% or so by the end of the week. Market punishing shares that are "jam tomorrow" at this point. Unless OF pulls a rabbit from his hat and finds that winning lottery ticket of good news from one of the "prospects" then this could go down a lot more than that.
Sometimes a cigar is just a cigar, as they say. Same applies here, percentage day change leaping around all over the place is also volatility caused by low base - nothing to do with news, leaks, manipulation or TA.
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