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Nice trust me this share jist confuses me, making good profits in all my junior mining stocks and even decided to sell 3/4 of my mosman oil stocks to top Up in alien metals and Conroy gold. But im at a 3.5 gran loss on this but happy to leave this until comes good but thats only because im up 2/3/4 fold on all my mining stocks. Oil will come back but it could be 4-6 months off with the bloody covid! But i still maintain that president is in a good position moving forward. Fingers crossed for us all
Honestly tho 1.4 ??
My concern here is what they earned in H1 this year. Gut feel when the results come out it won't look good. The last RNS was highlighting "pre lockdown" per day.
understood now that you've suffered plenty here like many - many - others naptham.. and my bad for mis- interpreting you as clueless as to the awfulness for so many for so long here.. (to reiterate how awful, I'd offer that there are many many here that would love their first purchase here to have been 10 p instead of 20p or 30p or 40p.. etc..)
While I've been very lucky here that my range trading style and steadily growing to extreme dislike of this share has seen me cut and run a lot/for long periods over the - many- years, towards having far less significant losses than many others, I'm still traumatised enough by my journey here to be livid with how badly this share price has performed for how long.. and while I accept the companies overall performance has mostly been awful for a long time and that the s/p should of course have suffered extraordinarily off the back, I still think this s/p is ridiculously too low versus where the company has been semi decently at for a while now.... and this s/p could so easily rise strongly now from here via some even semi decent II buying in the open market.. etc..
Process Our oil, sorry no glasses on ha
No ive been in since 10 jan 2019 at 10p bug i have averaged down. So trust me im frustrated but i agree with what he has done. We may be no more with no one to prices our oil on a shutdown across the World again.
some points in that I agree with naptham1.. some I disagree with, especially the lose all my money bit without this latest trafigura placing.. in fact, I'm very confident this s/p would be higher now without this latest placing.
Also I'm guessing you have a very low average here and haven't been involved in this share for months more than years and, in my mind, all you say is a function of that ....
Anyways, we're all entitled to our opinion and good luck with your bet here.
Ps; if somebody/ies spent a few hundred k buying this share in the open market now, this would motor on up imho.. compelling for trafigura especially to do that around now.. their average must be close to 3p altogether, and in a multi million dollar holding .. and they must believe in the co ..etc..
I think you need to look at the bigger picture, the virus, traf will buy our oil over competitors, as it is their oil in essence. We csn also export oil now through traf. New wells new gas, ducks lining up. Just thibk if this hadnt happened you may have lost all your money and they went under, unless you are running a bisiness right now then you probably dont get it. Its survival time and they are growing
I assume it's the last of the 7 or 8 or so ?? he did in the last 10 years that you're referring to napthman1 ? :-)
( my argument, again, is the last placing is the base cause of the meullering this s/p has received in recent months.. and PL was pushed into it by Trafigura.. towards them getting their average way down from the 4p it was after first placing for them x months before.. and the debt was not a big issue as it was his lending to his company etc.. Trafigura haven't put a penny into this share in the open market as well and have completely obliterated other long term shareholders especially via this last placement to boot, not least fellow II's ...)
Thank god that peter did the placing hey and paid down the debt, companies will fall off a cliff soon but we have low dent, low costs and a great partner in Traf, the rewards will come. dyor
Good RNS again with the same result, a drop in sp is normal for ppc so no worries. 9yrs in January its water off a ducks back for lth's
Couldn't help a mini top up (doh!) which has been reported as a sell on the trades.
3 stocks great RNS's and all are down President, Mosman oil and Alien metals! May be nothing more yhan markets selling off due to further Covid restrictions world wide, this company had its foundations firmly set now. This will at some pout fly, but we may need to wait. Its like One of the wells drilled, pressure will build up and then it will let go and the sp will flow upwards :)
Cynical but maybe correct!
I'm sure these sells r ones who bought in 4 trade leading up to spud hoping 4 spike which has not happened.and now sold 4 a loss