The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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All being well everyone's research and enthusiasm for this company will pay off in a huge way. I've been reading the Art of Execution and considering the success of the connoisseur - the one who holds and holds running the winners for every % return. I've been trying to think... When does this stop looking likely to continue growing? After atomic? After negotiating 100%? After Nigeria? After AM gets the bit between his teeth and rides his success to proper midcap oiler? Or do I just hold this incredible turnaround story until I retire? These are the decisions that make millionaires.
Yep it’s certainly all about timing. Have you hit the bottom, have you hit the top? Do you take profits? Do you kick yourself for selling too early? Do you kick yourself for buying too late? Personally it’s so difficult to get this spot on and my experience tells me in a volatile market to take profits when you can
Top slicing at 3p would be a sensible move I'd say!
PSJohn definitely agree. Having said the below I need to clarify that I certainly wouldn’t sell now. In my view it’s a safe bet this will explode once we hear that the Atomic finance is sorted.
i will wait for 30p ...in few years time
30p seems a bit far fetched.
just like GGP from 0.07 and EUA 0.14 ...nobody thought going over billion M/C in few years.
Yes I can see everyone's point and there are a lot of experienced investors here to listen to. It's just that, in my experience so far, there seems to be an obvious jump off point with news driven companies. News = sell. Here, there is such a rich stream of possible events in the next 6 months, all revenue creating, that I think is going to be tricky to guage when to exit. A nice problem and one I'm sure we will all be happy to wrestle with :-)
Derisking would be much more likely than exiting.
Some interesting points. People talk about de-risking top slicing... whatever... I look at various things. The main one being... is there something else with a better prospect of increasing my wealth. Really simple. The very minimum for me to even consider selling anything is post OPL226 licence... by then ‘Atomic’ will be full bore...
I would also suggest Art will have considered other acquisitions... we hear of Mozambique!?
Trading on news is also a big gamble for me... I can’t stare at a screen all day.
In summary; at the moment I have no intention of reducing my investment any time soon. It’s like waiting all year for Christmas lunch and then having just a cheese a pickle sandwich!
I would concur Stew... 30p is a little far fetched... 28p... now you’re talking!!!
Sidney interesting point.
Just a recap and let’s wind back last summer.
SP was 0.0050p, on news that Essar and COPL have reached agreement, we went to just over 0.01p, and closed on around 0.093p and did 85%.
It was only in the following days that we rose even more touching a high of 0.60p, before various pull backs through placements and Nigeria delay.
Guess all depends on how much money each investor has put in and more importantly how or what they need money for.
Each to their own but I won’t be too slicing on the first day of Atomic deal confirmation - no advice intended.
I remember it well Shaa. I had built up quite a few shares prior to the news dropping about Essar, but it was only in the following couple of weeks that I really loaded up - there were great opportunities to buy in and then the price kept doing 30% + days.
Happy Sunday boys and girls well it's March tomorrow what a month it should be....
Happy Sunday Bolton, hope you’re well?
Easy to think all you need is to buy into the right company... in reality that’s the easy bit, the tricky part is when knowing to sell..... bear in mind a few years back with gulf keystone (sound energy more recent) there was investors who held all the way up and all the way back down again,.... some will sell quick, some will hold till later and others will sell too early or not at all.... each and every one of us will fall into one of the above categories.... it’s this decision that will make or break many....imo
Before anyone points it out... yes I am aware there are differences between these companies but like I’ve said before..... expect the unexpected
Yes thanks mkbarnes strange year with covid but sorted out my finances and about to move so all looking good thanks. Hope your well to my friend. I don't have what you guys have in shares but what I do have I won't sell for at least 2 or 3 years now as don't want to or need the cash.If one day it's 5p plus I would be a very happy chap. I am more interested about the journey we are on rather than the sp. I have 2 great friends I convinced to invest in copl ps they know the risks but I would be so pleased for them more than me really if copl becomes what I think it will. Not long now... and the sun is out
So you're moving soon Bolton. That's great.
I think there may be at least 100 who read this BB whose futures are hanging on how this share works out. Me included.
I only hope we keep our feet on the ground and keep our eyes on q to 2p before we start thinking about the q0+.
The next two weeks are crucial. We are all looking forward to the ride
Great to hear you’re doing well Bolton, pleased for you. Hopefully we will all be very happy over the coming months / years and our patience in COPL will be rewarded.
The end of lockdown, SP over 5p and a Party to celebrate in Bolton. What an exciting few months ahead! :)
A 5p party sounds very good to me. Amazing how much the sun being out makes you feel better. Tick tock
I queried the initial $8M deposit as some investors were thinking it was being used for further gas injection whilst i was thinking it was part of Atomic Senior’s pay off (in addition to a further gratuity of $4M worth of COPL) but neither was correct. Cathy explained that ‘..the funds ($9M) were utilised to reduce Atomic’s working capital deficit which was $16M at the time. This was at the request of Atomic’s lender. When we close Atomic will have a net zero working cap deficit...’
It could be then concluded that part of the initial $40M loan to COPL will then be inclusive of funds available for initial running costs (perhaps to go for the additional P2 assets ?), again suggesting, as many thought, that the additional $20M loan could be utilised to buy out NOP &/or CNOOC ?
In reply to the query of a possible dilution, to facilitate easier trading for our Canadian investors ‘... i get this quite often. There is a good time & a bad time to do consolidations & certainly management & the Board are aware of the eventual need to do so. Once Atomic is up & running, producing & providing a lot of exciting news is the time to consider this..’
Cathy explains that this would then probably have to go to the shareholders for a vote at an AGM or a Special Meeting & that ‘.. the shares are fungible on both exchanges so Canadians can buy and sell on London too..’. As some Pi’s have already said, a good success story can come at any value of sp, so guessing it will be very much sentiment driven, tied into possibly an avalanche of good news: NOP 27% &/or CNOOC 15% &/or OPL226 15% &/or AM buying another private jet?
The sun is indeed shining.
It's a very interesting conversation this and quite useful to those thinking about investing this week. I think we are all agreed this is not like an explorer spike on news but a company undergoing a complete transformation during 2021. I imagine that we all have a pretty good idea of our goals and targets. Best of luck to everyone!
Quite interesting doughb, consolidation is sometimes used for CR purposes, but in our case it will be to make the SP even more attractive.
When we are a few pennies, if a consolidation was to take place like for instance 100-1, it sill make us look a lot more liquid.
10 p. Party even look very attractive in coming days