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Judging by the size and vol of late trades getting reported all week and who is doing the business it looks like institutional/big players shuffling of chairs. Expecting more TR1's, then maybe we'll see who's buying and also if someone's getting taken out. Retail interest is there, but it's big money moving around for now. Chart looks very compelling if we can break the recent 25 highs...
Work with JAPEX JV already commenced, deals in the pipeline, announced production asset purchase still ongoing, Velocette to spud last weeks of July/early august, Malaysia looks super interesting and potentially massive, directors think the company is very undervalued. Which of course they would. But where in the oil ‘n gas arena do you get value like this at this daft price?
Mommur - fair comments, no doubt LBE holders in from far higher prices are less sanguine than those getting in at this juncture and at this price. I’ve followed this from IPO - due to the ex FPM mgt - but not bought until now. I thought FPM mgt did a decent job, are the real deal and at this price you are getting big game management - now, crucially, with a big game partner and funding - currently for a junior/junk/dreamer AIM oiler price! That’s the appeal right here, right now. Long term who knows, but short term this is just way too cheap for what’s on the table.
Timing is everything in this game.
Over the lifespan of FPM as a listed entity you could’ve bought at the lows around 50p all the way up to the highs of over £2. Ones view of the final buyout price from DNO at 160 then was rather dependent on where one bought in the life cycle - from very nice thank you very much (50p), to a bit meh…(200p)!
And of course the volatility in the price of oil over that same time frame accounts for much of the volatility in the price of FPM.
So, to reiterate - timing is everything.
…investor taking a decent stake, not waiting for the 12p dip 🙄 . The bottom line is, at this point in proceedings, it’s just way too cheap on a fundamental basis. 40p and it would still be cheap for heavens sake. The market is missing a trick currently, but this opportunity won’t last for ever…
Instead of making yourself look idiotic with daft price targets maybe check what the mm’s are doing, even as the sp drifts a penny or two. Investment fund manager building size or Mickey Mouse traders calling 12p ffs. You decide.