Well in for a penny etc,I've made the decision to say the distance,if it goes it goes,this was always a long shot,but still could have done without the loss if it goes,would mean losing 50% of my gains this year,shame, well back to the drawing board,least the tax man knows what he can do!
Impending doom and gloom. People assuming the end is near without the facts. It normally means it's either time to buy or the bottom is near. We are now seeing the last stages of investor despair, all hope gone and bearing in mind that a lot of the market is about psychology and sentiment I am convinced we will soon see a bottoming out or a bounce. Witness stocktrade as an unfortunate example. Late yesterday he was convinced it wasn't going bust and was not going to sell, early this morning he has been willing to take a £10k loss. Enough said. Well oversold.
on the 19th February @ 4.62p the FRR sp dropped below the Kumo (Ichimoku chart). It was DEFINITELY a sell then. In fact it was a sell on the Ichimoku chart before then when the PTR sp was over 5p.
Any company will high borrowings and insufficient cashflow to cover those borrowings (pay the interest and re-pay capital on time) is always at risk of going into administration. LDP is just such an example (that's before it re-surfaced as an investment company).
ok good luck. i dont think any1 can be sure that that this is not going belly up. they will need more funds to pay down debt in the short or medium term. the last placing was at 5p and a 30% discount. i dont see a farmout as they cant get the stuff out the ground. 30 wells drilled and only 2400bopd
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