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'snap' cautionyourblast
(Amer was a very long and trying journey for me but did decently in the end .. involved plenty of in play trading alongside buy and holding though.. starting to look like I'll have to go more again that way here too... it's what AIM is more and more about nowadays imho... and adds further complication to an already complicated game.. and chasing returns that are harder and harder to come by.. brutal paradigm altogether with fewer and fewer winners and hence fewer and fewer players.. begetting downward spirals )
This shop reminds me rather a lot of the now defunct Amerisur (where I had a very large position and made a relatively modest profit). Shareholders left to guess the story; jam tomorrow; generous remuneration....but also a very promising asset base.
I suspect that if this goes up, it will be despite management rather than because of them. The word "revenue" seems not really to be prioritised. Where is the road map for income, BoD?
I suppose I'll have a little punt with some of my AMER and ELA proceeds.
Sounds like holding long term not trading is no longer the right strategy.
Cannot believe the company is still radio silent. Will they ever deliver? Another bad week?
most O&G companies are 20-25% off their January highs as Brent has slipped over $10, so the fall from 20/21p has been market and not company specific.
Its harder here as there had already been a fall due to legacy bondholders exiting.
I bought more at 17.5, probably buy one lot more if it goes near 15p. I hope it doesnt!
very disappointed here so far but understand that I could be more disappointed again, of course.. and this proves one more time that playing AIM O&G is brutal.. and, in recent years, mostly a mugs game.... perhaps things may change here and generally in the sector for the better in due course.. but nothing is even close to sure; far from indeed .. so this game is for deep pocketed/financially buffered types only imho.
Generally, I'm just about reaching the point where I feel compelled to start averaging down here.. which, while par for the course towards trying to weasel my way out of another AIM O&G hole, is far trickier this time as this is my biggest position.
(including selling 10% of my position at just under 19p, my latest thinking is I'd look to add 20% more shares to my current position around 15- 16p range, and 25% more on any meaningful weakness under 15p.. hopefully we're close to the bottom now but in this game you just never know.. hence my general rule of no more than 20k gbp bet per stock no matter how much I like a given stock.. but, unusually, I broke that rule somewhat here: foolish)