Exactly so. The rouble has fallen considerably and as UEN sells oil in dollars the fall in the rouble has cancelled out the fall in oil price. The price of oil is now recovering and predicted to be back to $70-$80 by Q4 so UEN will be quids in. No debt, massive reserves. This company is not just a bit undervalued it's massively undervalued.
Spread is a killer here, UEN is good if all is going well but as soon as MMs think party is over, they drop sp big time. BODs have been very bad in shareholder representation in last few months so let's see if they will buy shares in UNDERVALUED company.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.