Not sure the government is worried who should get the oil out, so long as they get their tax take. Don't look in that direction [the government] for salvation. My past experience with Chinese investment in circumstances like these, they take the f ing lot. Come tomorrow I shall try a dummy sale to see if anyone is mad enough to buy the last of my holding. Not sure what I will do if there is.
One might JBond/HMG and filter thru to OGA should know more about internal China politics/business and possible far flung effect on projects such as UK North Sea aspirations and Bentley, important to UKinc but far removed from Beijing issues and their immediate concerns re heads of several major state companies.
The Man is the money guy(s) mate as always - you'll know who they are this year imo ...
No point blaming Rupes, he's simply not in control as The Man works to his own timescale and has to unwind his other positions before reversing the cycle and scooping up plays like this for comedy money ...
Don't try and trade it cos that's not what you do well - what you do well is sit and hold and NOW is the time to play to your own strengths - buy/add/hold at single digits and come back in 3-4 years with triple-digit oil as I've suggested this past week or so and XEL netting $50+pb and work out your targets from there ...
Those big 3-4 year $110 options are going in right now ...
they deserve it with this calibre of mismanagement, $450m spent, m/c $40 or less, and a supposedly $2.5bn asset, at this rate they will become a business school textbook case of incompetence, all in the time space of seven years or thereabouts.
But actually not entirely true about the company status imo, after Bondholders dispose of Bentley a rump will be left, no doubt still populated by the dream team of RC, SK, and AF, for anyone interested in further investment..
"I'm sure RC won't get away Scot free like he thinks ! Imagine always having to look over your shoulder the rest of your life ! Not for me ! Not for all the dirty money in the world ! Xcite possibly the biggest AIM scam of all time !"
I think I might get some of my monies back if I put up a boxing ring at the AGM and charge a few quid for the main event. wink wink etc etc.
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.