It has always been about timing. See Blvn now as new investor, bit of research, put your money in at 30, Cameroon government give the go ahead for lukoil, /sp rises, spud announced, sp rises even more- simples.
But.... the new investor would have missed that free gut churning rollercoaster ride of the last year or so waiting and waiting and waiting with the acerbic interludes by Chris2 .
Poker with OPEC but production will v cut at some point. No two ways about it. Why allow your primary national asset to be sold for as low as $80pb when $100-120 is achievable. No idea why people get so freaked out by a lower sp though, especially with a company like this where a monetary value has been declared. I'm very confident this deal will be done because Lukoip are getting a good deal and the cam gov want the oil revenues.
Couldn't have put it better myself,gambier01 Seems only very few on here understand that. Have been saying the same since December. AIM has no interest Oil sector on its knees Oil prices low and getting lower No confidence in BOD Markets on a wobble Etc etc etc.
Assuming the FO goes ahead ( Please Dear Heavenly Father let it go through..) at what time will the market decide to buy in.?? Will there be an orderly rise towards the end of October (with a nice drop first to take out stops) or will there be a mad rush on the day of the RNS. That's assuming of course that the SP will increase.
Russia need oil reserves and although Luk are on the sanctions list, I would hope that they will proceed as per the timescale. They probably have more clout with the Cameroonian elite than HannaBarbera can muster.
This has to be one of the most frustrating shares I've ever owned! I've been in here since 2010 and ridden the rollercoaster. Admittedly I've learnt a lot in that time but now the last few months really have taken the biscuit! First there was all the hope that having the EEAA granted would boost us up (it did for a couple of days!) then there was the farm out news - at last someone the markets would take seriously who could deliver onboard so we could focus on what we are good at - finding the stuff! and yet we are stuck in the doldrums. Now I know that the outlook for oilies isn't great but we are about to receive more than our market cap in cash whilst retaining a 20% interest, we also have fingers in other pies too - why isn't there a nice steady rise upwards towards even our historic long term average before we started solidifying all this (c70p??). It just doesn't make sense. Either someone knows something I don't which is v bad news for the company or the whole notion of markets being efficient is nonsense! Why is the market smashing this company into the ground???
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