If oilriches is correct and the company's COS of a commercial discovery was only 8%, then it seems daft to spend all that money drilling effectively a duster. It reminds me of the Rockhopper days when there was a drill to find the edge of a field with the back-up that the oil may have migrated.
All along they said the well would be plugged and abandoned so my view is they found what they expected to find.
Let me get this right, some on here think the IIs are 'loading up for a return in 1-2yrs'!!! ..... Oh my!..... If I take a notebook at work I have to justify it. You telling me someone signed off £100k-£200k buys with a hope that they will get a return in 1 to 2 years!?!? Are you kidding. That person would be shown the door as there are plenty of good cherries to pick. Or even stick it in the bank!
I think there is something in the footing that we are not privy to. No one here sits on the board of directors so we know nowt! Time will tell. I'm in and staying in. DYOR.
Many things are in our Favour ...4p placing 2 months ago now 1.16p ....SC55 De-risked ... over £5 mil in Bank with Distressed companies everywhere .. II s toping up and they are not trading .. under 500 mil shares issued .. work out with the placing and directors and II s shares how many are actually in free float and with people who can or want to sell ...every buy for a good while will cause a tick up ... 2.4p would be my guess this will rest until next spike .. GLA
No investor is ever "locked in". However much you're down the sensible investor looks to where his capital would be better employed. Selling at a 90% loss and then re-investing the money in a different share which produces a 50% profit has to be a good call as long as the share you sold doesn't do even better. Unfortunately, getting it wrong more than once or twice wipes you out. "Averaging-down" is generally frowned upon but we all do it. Sometimes it works but often it doesn't. In RMP's case I think it is a good strategy at the moment but I have no funds to follow my own advice!
lot of people locked in including myself 4p would be happy with , hopefully will top up next week to get my average down , holdings increasing for the last 2 weeks ? agree with Bolgas oil prices flat and may go lower will affect sp. long term for me 1 to 2 years will boost my pension pot, glad to see you back Oil
I agree cinco is a good bit away but when market conditions improve i think sc55 could be farmed out to a major on the prospect of cinco. I don't see much happening within the rest of this year, which may cause this to drift a little. on the next activity 4p is the obvious target.
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