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why doesn't Eytan just realise his lucks not in here, after all he hasn't produced one single positive increase in share price. I would just sell the company for a few million and move on.
I think the wording was key to saffron 2 well, he focused on the data showing from predrilled expectations, then backed it up with the petrophysical analysis of samples taken as they drilled showing the quality of the oil as they cased and reached final stage of where the reservoir of oil would be and then they production tested it, the results weren’t what the predrill expectations suggested. The predrill expectations was for a commercial discovery, oil companies use this wording a lot, the signs where there in the data
but it didn’t turn out to be as expected.
Not as much as I did with legacy BPC that made me go in on MAY. Can work with one antipodean bunch why not another? Won't be long before some mad lab rat creates a franken-pig that flies.
If it was why aren't CEG drilling more with RBL.
But why after drilling saffron 2 did Eytan say it was a commercial discovery?
I disagree with you, they did what was needed to be done to survive a event which has never happened before in history a oil collapse to -40, a very tough investment environment which banks have been deliberately avoided investing in for over 10 years, large institutions are only now dipping toes back in, this market has been a hated sector for over 10 years. Try and make a company survive in these conditions takes grit.
That is very poor management
But CEG bought a company for 25 million when oil was 25 dollars. Now oil is 110 dollars the asset is worthless.
Many went bankrupt in the USA barrenboy and had chapter 11 protection wiped out shareholders entirely and reissued stock Gulfport energy for a example went bankrupt wiped out investors and then was revalued at $68 a share it was trading under a $1 how is that fair,
Other uk oil companies consolidated their share price to keep there share prices higher like harbour energy for example, CEG took a risk to drill it failed they have diluted shares holders to survive, they have a lot of rope moving forward to keep the SP higher where as other companies can only dilute shareholders as they have already used there ace cards. Believe it or not what ceg has done is saved the company and also given it a lot of opportunities in the future I do admit it was at the loss of the investors along the way but if the company failed all would have been lost anyway.
I have looked at all of the oil companies trading and CEG has the largest share decline in the last 12 months. That is after Percy drill. Since then they lost millions of the placing monies, and not been able to produce accounts on time. Doing well arent they. Well done Eytan.
JohnBriggs - precisely you prat, a lot higher in the next 12 / 24 months
It will pay to be nuts this time output, logic is not always the way markets work, when oil prices start to fall this stock will go up.
Mad,
I haven't been on a cycle for some time. However, I'm a bit excited about Uruguay's prospects and there might be living in this dead donkey yet. Now that all the sane peeps have left and only use nutters have stayed behind who knows what could happen. PRD rattling the cage has to be positive. If there is nothing why rattle the cage? Well, I stupidly like the most insane person on the planet averaged today so I'm only looking at a smaller massive loss - the straight jacket fits me well.
We will catch up again in 6 months and see your stance output I won’t disappear into obscurity,
If I am wrong I will take it on the chin and at a loss as I am invested, This is nothing new all happened before, this is a cyclical stock at the start of a commodities bull market, 2 years in after global oil price collapse then a massive recovery to over $100 a barrel there will be a price rebalancing of stocks with a lag, they go from overvalued to undervalued and find the mean then the cycle begins again, to top it of the uk market as a whole has been in a cyclical downturn for many years along with Europe markets move in cycles within cycles hard part is to work out where we are in that cycle.
One word: Uruguay.
I'll have what you are smoking, Madmaximum.
Despite all the nonsense about the stack of cash they are earning (delayed accounts anyone?) the company is desperate to ramp up its prospects across every medium possible; RNS (where it can), twitter , and paid shills like proactive and Malcy - oh and as well as the usual suspects like Pillec on here.
The only reason for that can be that they are desperate to get a discounted raise away and that can only be done by drawing in mug punters to fund the "sophisticated investors" who will flip them for a guaranteed profit at your expense.
Beware the dangerous posters here and remember the names!
" I believe this stock will go up over the next 6 months all the gains will be made in that period, then the stock will consolidate for 18 - 24 months, ... but I personally think the big move will come this year and then when investors become bullish the slow bleed will start again and last for 24 months."
If I know anything about anything is that I know nothing about anything - pretty much sums it up. A gusher is always round the corner?
I've already declared myself insane, especially after P!.
I think personally your timeframe is out willec, I believe this stock will go up over the next 6 months all the gains will be made in that period, then the stock will consolidate for 18 - 24 months, oil prices will still be high which will make the bull trap affective, there is probably going to be share consolidations next year to keep SP up, but I personally think the big move will come this year and then when investors become bullish the slow bleed will start again and last for 24 months.
If this hit 3p I would declare myself insane.
How could this go up 30 times!!
PMSL you said 30p by the end of the year only a couple of days ago... what a Pillec you are LOL
Keep them coming - share price a lot higher in 12 / 24 months