new lows coming for the oil sector.6 Sep 2020 09:05
Some pretty bearish macro stuff out there guys so be careful.
Remember this tested 0.07 height of covid. PMO looks to be headed back to new lows of 10p.
UJO has to flow significant commercial amounts with just 16% of the licence - with such low oil prices they probably need four fig flow - miracle imo.
Agree with placing. Oil companies don't run on shoe strings whatever the rampers try to peddle. Some would have you believe ujo runs on fresh air lol. May have run small but now theyre drilling watch the expendituure! what happens if well doesn;t flow? They won't be able to raise much above 0.02-05 so raise now or raise if they flow enough commercial? A low raise if no flow would dilute most to death. A raise if flow then that's a gamble on flow so a raise now would make more sense? Surely even a bull can see this reasoning? Most would take a 0.15 raise now especially in what could be a tanking wide market.
Yes David Hopkins shafted many on SER as you quite rightly say myself included. His shocking, disgusting criminal background meant he couldn't be involved as a director once all the nationals unmasked him as a bank robbing career criminal. No place in a civilised world for such sub humans threatening innocent bank staff just trying to go about their everyday lives. His ramping and involvement here should terrify the ordinary investor. His record appears attrocious. SER,OBC,AST fold or 90% loss. Should stick to robbing banks and HMP prison where he fits in well.
Still the market cap here just shows any old garbage can be pumped to the heavens on AIM if you can get the ball rolling. This sort of values needs that oil to gush. Eyes down, all to play for. 0.3p or 0.03p? My money on no commercial flow timbarrrrrrRRRR!
WTI is hanging on to $40 just. covid second wave and new lows we go for all oil shares. Markets starting to look troubled and we may see those down 10%+ days on stocks this coming few weeks with a dash for cash.
Good luck.
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