Finally some of topboy's predictions are coming true, as it would appear some shorts are being unwound on oil.
Unfortunately, the fundamentals remain unchanged at present and if OPEC/Russia can't agree on anything then we'll probably see the price fall again. This could all be part of the volatility predicted for the first half of the year. Volatility doesn't just mean prices go down. Don't forget also that we're coming into refinery maintenance season again.
An oil price of $35 and a share price of 15p are nothing to be pleased about.
Xcite is running this dangerously close to the wire, as some have observed previously, this cannot ever have been part of the plan. Can you imagine the carnage if the company doesn't repay the bonds, as promised in the Q3 results? And yet... radio silence. According to posts on III they're refusing to take calls from investors at present.
An interesting switch seems to have occurred. The algos look to have been moved to buy rather than sell. For weeks they have walked it down overnight on negligible volume but last night it was walked up about $1.5 on very little volume. Wonder how it will move today?
of production, about time for the executive to emerge from their Guildford bunker and tell stockholders just what is the plan going forward in 2016, is it FDP now, or lease extension, refi Bonds and hunker down for yet longer with no partner in sight.
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