I expect 70p+ atleat in the next leg up. Rkh has 4 well campaign starting with first drill bit starting in a couple of weeks or so. Seaion discovery already in the bag. Fully funded to first oil. All at a discount rate of 170£million.
Whatever flawless says or do. Rkh rig is closer to the drill site. Oil is recovering. Greece is talking again. Ftse at same value as it was 15 year ago. A breakout above 7000 could signal a massive massive bull.. All in all great time to pile in now then scrambling in a month maybe 20p-30p higher
I should mention that I believe we ain't far off the recovery/bounce in oil stocks. And that however uncertain the times, we'll always need oil and that RKH is solidly safe for quite some time. That it is possible to get a 3 to 5 x bagger here as opposed to a possible 3 to 4 x bagger at Afren so many others are chasing - the difference between them being time scale (RKH may take 2 - 3 months to reach top of the cycle, from rig arrival to drilling to results) and the extent of the risk. I should know, I doubled me money on Afren from 5 - 10p, and then put all proceeds into here. I will be accumulating however I can. So the longer it stays at these levels the better (though I doubt it will stay at these levels for long - I suspect once Afre is resolved there'll be a lot of money coming here).
I admit to being a bit ramps and the reasons I bought into RKH are still there. I so dip in and out of shares during uncertain times. This is not because the shares are bad, just because sentiment is up and down. I have missed some bigger spikes doing this in the past but tbh it has served me well since 2007. I will be back in here, just not sure of the day. It will be before spud time,
...but to flaunt one's apparent good judgement when one is still waiting on the sidelines, when this could pop i.e. 10% - with no likelihood of retrace, having exited earlier at 63p (as admitted) could leave one exposed, particularly to looking foolish, especially if one then has to buy back in at 68p.
On a strong rally again ... Now above $59 and over 4% up. RKH does seem to mirror the price of Brent to a degree (which makes no sense to me seeing as sea lion is 4 years from first oil) so hopefully we will see a strong day tomorrow.
Personally I imagine the SP will be range bound here for a while, maybe until spud.
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