Oh course you are right. Many PIs are in this too early, relative to the situation. As such it makes them subject to all sorts of fluctuations. Meantime, the big guys are in this for profit at any spot on the ladder (not necessarily the end price) If the PIs force it up, the big guys will take a profit . So it swings back and forth. IMO the SP will not go firm until they start laying pipes on the sea bed, and then really firm up when production profit starts to show up in the company end of year accounts. ( I am still doubt full about FIs oil) but if it works out then if the PI can afford to wait, then the best advice is to switch their computer off for a couple of years
....agree.....the lazy big money will buy and wait for a 5 fold+ return......what's the timeframe until it gets sucked out of the ground???......then again, I suppose we should just wait for Argie's to show interest again .....that'll be the sign !!
Mike its always been about patience as I work in the oil industry I know how long it takes to get from finding to production the market and most pi,s don't like this thus the price drops flushing the impatient out allowing the big guys and the shrewd pi to pick these up on the cheap knowing full well that at some point this will change and change in a big way.
nowadays I get a bad feeling when a company has a huge stash of CFD's (they have over 18m from that RNS today I think). If they want to continue accumulating when there is a good news RNS they just sell into the rise as was done with BLVN by Blackrock on their big news RNS a few weeks ago.
I have been ready to buy in at 124p for a few weeks now. Silly question I know but does anyone know if Odey have been shorting this previously, going long i.e. do they play dirty.? Maybe that is not a question anyone can answer here or they can give any answer they like to it !!
Anyway would be interested in a regular posters' opinion on this. Will look in later. Ta
Many years ago i was in the same situation with tullow oil,no matter what oil we had etc the share price just kept on going down.I could not understand it at the time a friend of mine sold his entire holding that was a average of 70p only to see it reach a peak of about £15.00 a few years later.The point i am making is that as long as facts of the company have not changed buy more as i have been doing it will come good in the end,it always does thats how the oil world work gla......ps if you want to know how dirty the markets can be just look at gkp today at about lunch time today it went from 1/2p down to about 13p down in a matter of minutes wiping out all stop losses at the same time now i wonder why................and it recovered to finish about 7p down going with todays market sell off..
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