The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
DG
Do you mean your buys were reported as sells?
Good to see Divi announcement and oil has regained a little ground as well.
Louis
To the contrary. We are due a resource update this month which could cause fireworks and greatly increase share price. Serenity is being actively discussed so news could be imminent. Then there’s always the unexpected like a take-over bid…
I’m pretty sure someone is increasing their holding at these prices. No doubt someone is also trimming.
An RNS with an operational update would be good. It seems likely this week imo.
GGG
Agreed. Have you still got loads?
Good point. Maybe they are acting for a client in building a position in advance of a take-over bid. It would make sense.
I hope I’m not being demonstrating affirmative bias but there definitely seems to have been a change in sentiment and momentum on this share. Are we at the bottom and about to shoot back up. I hope so.
I also noticed the hoard of bears over on Advfn suddenly became bulls yesterday and have all started buying.
My view is that the selling must be linked to the recent gas price collapse. Someone posted a good Murphy Oil presentation recently which showed i3 as a neighbouring property in Simonette. Murphy quoted AECO contract prices for Jan and Feb near $2.5 which makes a mockery of our $4.5 assumption price. I expect our expenditure figures are being hastily recalculated.
Crazy to think our market cap is less than Chelsea forked out for a few players in the Jan window.
I still think we should sell one or two of our assets and use the money to better develop the retained ones. Life is short…let’s do it and up the pace particularly at Clearwater.
Good article posted on Advfn
hTTps://oilprice.com/Energy/Crude-Oil/Chinese-Demand-Will-Drive-Oil-Prices-This-Year.html
Nice one Ken
Thanks Tony. Heartening to see that someone has faith in me.
Oil is slippery stuff and our Clearwater oil is definitely on the move. Made worse by climate change. Last Sep we drilled it and Majid was heard to shout “what do you mean there’s now f*ck all there!!…”.
This is why we had to increase our acreage. It had all migrated down the hill to our neighbours property. Negotiations were tense because he’s of Irish decent who apparently likes a drink.
We need to get on and drill otherwise we will continue to chase our tail.
Tony
As I’m sure you’re aware oil migrates and moves over time. Since that article was written we may have lost up to 25% of our oil particularly if there’s hills on Clearwater.
I wouldn’t like to be G_G_G’s cat this afternoon. I imagine he’s not great company on days like this.
That monthly CAD you refer to changes every month and will collapse next reporting in line with the daily price which is still dropping like a stone. Worldwide over production, full storage facilities and alternative supply lines to Russia are all factors. I’m not even mentioning western governments also doing everything they can to force price down further to ease inflation. It’s going to be a hugely difficult year with gas prices and you know it.
It looks like you’ve posted the wrong graph showing retail price buying further down line. If you scroll down there’s the AECO price for producers showing between $2.50- $3.50.
But 2022 was a once in lifetime crazy blip for gas prices. You can’t use that spike for forward looking calculations.
Thanks Tony but isn’t the point that even $4.50 Canadian dollars is crazily optimistic for 2023?