Your sub 60 dollar view of oil made me smile. You could be right but I suspect we could breach that within weeks if the non OPEC meeting goes well this weekend. All guesswork but I wouldn't be surprised if we get a 7 handle in 2017.
couldn't put it any better.....Can't see there being anything exciting for this share in the mid term either....Ive said this so often but a takeover bis is the only hope I perosnally have for getting my money back before the turn of the decade
Textbook PI trading. This malaise has been sustained for over 12 months now. Although XEL does not compare to RKH in most parameters (RKH has no debt, it has a cash pile and it has cash flows), it did demonstrate how a PI favourite (including GKP) can be wiped out. I think after Afren, Gulf and Xcite, a blow has been struck that has left the PI mentality permanently changed.
Now maybe the oil price moves to $70 plus and RKH gets taken into production, then you are looking at a minimum five bagger. At that point everybody kicks themselves for not buying at the bottom as RKH cruises over 100 pence. But maybe oil never gets beyond the $50 range and a whole swathe of reserves are mothballed.
Anybody who thinks they know, with exacting accuracy, what will happen to oil prices, is an idiot. Rampers of this share who claim to KNOW the future can be included in this group. If you buy now and this goes into production you are going to make a very large return. I won't buy here because I'm negative about the longterm price of oil, my guess is that we are in a new era of permanently sub $60 oil. Maybe im completely wrong, I am guessing after all. But this constant low price is what I consider humility amongst PIs. There was a bubble in oil and gas and both investors and corporate management got carried away. We are now in a period of questioning previous assumptions and the current share price reflects this.
Looking at today's reported trades there is now no indication of any attack one way or the other on the SP, all small trades. Looks actually more like SP is dying of boredom with around 18p-20p being the bottom.
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