OK point taken I wont repeat that mistake , gibing you yet another excuse to get someone removed from this board but the facts remain traders are selling small amounts to drop the sp then buying much larger amounts, that to me is a vote of confidence and I will stick to my prediction that we will be back above 0.5 very soon.
CH, I tink you are in breach of the following T&C from LSE's website
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And you think I don't understand the problem.....lol It's almost like the CME read your posts and drop the price :-) Oil $38 pb Like I said last week GS have a better undressing of politics and finance - I'll stick with their prediction of oil in the 20's!!!!! Unfortunately for you people get to read historic posts, that you make, and get to realise how wrong you actual are !
I posted the below on the 11th November. I didn’t need to attend a presentation to work that out. I'm smart.
“Yes they are cash positive on current production and associated revenue, but that is because the development costs are all sunk costs. As soon as you start to drill your cash outflows are considerable higher than your inflows and payback periods on RRL's stated average production, exceed loan terms.
It's much better to hold off drilling other than comittment wells and concentrate on water flood which they have said is commercially viable at current prices. What investors don't want is water flood revenues having to be used to pay for uneconomic drill to keep LO happy ?”
But you can see the emphasis has been switched greatly to water flood already for that very reason .... they are clearly in no hurry to drill any deep wells unless the commitments are already there ....... that much is obvious and would have been made even clearer to anyone who bothered to attend the presentation ..... it's not rocket science
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