The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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where are the bots today? last week they took this down from 55p to 50p in no time. i think they were waiting for me bcoz i piled in at 55p.
Unfortunately the SP is stuck in a corrosive down trend and will continue to be so until a positive narrative is established by Tullow. Some positive news regarding turning around production improvements at Jubilee and TEN where statements from Tullow directly contradict statements from their partners (Kosmos) and the government officials is badly needed but Tullow seems more focused on accepting the production will be as forecast and "resetting the business" to compensate for this. It almost seems like they think they have no ability or leverage to resolve the gas offtake issue.
However, if Tullow can exceed average 80bopd for at the 2020 HY they can expect a sharp upward rerate to a more sensible price, but first year figures will include downtime for improvements made in Q1 so this will be a challenge. I was also left incredulous to read that the Tema gas powered electricity generator in West Ghana may sit idle due to difficulty importing sufficient gas from Nigeria via a pipeline undergoing maintenance. Exactly why Tema does not have gas feed-in from Jubilee I have absolutely no idea. Ghana are paying through the nose for gas while gas at Jubilee is being re-injected into the reservoir worsening production rates for every day that goes by.
you may have closed too soon. oil price could carry on going lower. WTI $56.50 my next target. before any attempt at a bounce.
53.36 was the 17 January low. So either a new low was formed that day and we close near 54p or higher or it closes lower and the move to 58-59p happens over a week or so. The next retreat would be 54-55 ish area. This all takes us into February. I would like to the share around 62p-64p by the March update.
Got filled around 52.8 and think 53p offers great long term value. Don't think we go below 48p now, but trend still down unless we finish above 55.. probably be 48-68 till March update. (for now don't see any sustained rise though) Still down a bundle so I must be one of the few that 'hopes' we stay lower rated for a while so I can get a 'reasonable outrageous' average price this year. I expect 20 day mov Ave will continue to limit any rises and see this void period as time to get a few cheap. For now this is being kept 'neutral' and hoping delay with full year results and full update will 'reset the tone to a more positive one'. Still think this has huge turnaround potential due to the assets but for now it is what is and 2019 one disaster after another. 2020 would now appear the decks have now been cleared and only once 'all the **** news' has been confirmed can we move forward. Just now we hope it is, but need confirmation at next update.
I hope so but we have to wait and see as I am looking at daily charts.
Hope so. Dropped my 'Big Bertha' at these prices.
Do you think we have a new higher low?
I like to name my big buys and that will be the name for my Tullow one if I have to drop it on the market. Just saying.
Tony Big Bertha?
I'm buying at these rates.
If I used big bertha and double up, I would be around the 62p mark. At present remaining patient as not get to overweight on the position.
Shorters still out in force this morning. Hopefully there are some buyers out there.
Hope it helps deliver the higher low and we move up from here.