Looks like the mm's were playing some games yesterday after a really encouraging RNS... sucked a few traders into selling... im expecting 60p to hold as support now and looks like we may continue with the rise from the tight bollinger bands. ATB
Have you any news or rumour on the farm outs. There has been complete silence which may signify a lack of market interest. I have made the same analysis - the asset value of the recoverable oil (and I believe 280mmbo is very conservative) is vastly greater than the SP. So what type of event will make this sp move up? There doesn't appear to be a driver
I was impressed with this morning's RNS, but judging by the lack lustre response of the LOGP sp Mr Market was distinctly underwhelmed!! Unless the sp jumps up tomorrow it looks like todays news was already priced in to the LOGP sp.
We will just have to hope the updates on the 3 farm outs, when they arrive, provides the u[plift to the sp we are all looking for.
Currently, at todays closing price, the upper Bollinger Band is providing support. 2 options for tomorrow. The sp rises and stays outside the BB's, or, it drops back into the BB's. Either way I'm holding on for the farm outs.
PVR estimate Barryroe contains 280MMbbls of recoverable oil. That means 56MMbbls recoverable for LOGP. That 56MMbbls recoverable is currently only valued at circa US$2.5 per bbl in the ground as the LOGP Mkt Cap is £86m. Seems pretty cheap to me and that completely ignores any value attached to the 3 exploration prospects.
PVR reckon production from Barryroe will start in 2013. Probably too optimistic, but I can't see LOGP still holding any of Barryroe by then. The CAPEX requirements are massive. Also LOGP only have 2 employees and they are both exec Directors.
Im still in but sold a large portion of my holding ! Waiting on the side lines for the green light .we went to 3.2p intraday high . It just goes to show its always wise to take a profit . I sold 200k magp and put it into fast the otherday .its proved to be a good decision !
Hope to buy more fast with my winnings from logp . somebody mentioned that fast were looking at farming into tpet !
Oilbuy -- not sure what 'in's & outs' you're referring to as a teenager lol but best left there :)
NFL -- thanks for the welcome mate. MAGP excellent stock as we all know. MTA - growing hairs and becoming increasingly frustrating at a total lack of official news via RNS. Im still in there but dont have a large holding. Its time will come when matra pulls things together imo.
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