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We are minnows in shark infested waters. Danger is everywhere and you're more likely to lose money than make it.
Once you realise this you might not lose all of your shirt.
This site is NOT the place to get your advice. Use it sparingly for information as to what is going on but DO NOT listen to the opinions of others, they are wrong 99% of the time.
So it looks like many others are thinking the same as me and jumping ship as all the trades today are sales.
I've been here before many times. No news and the price keeps going up then more no news and the price keeps going down. This is the Roller Coaster ride that is JOG.
Even If Ruzzia were to remove themselves from Ukraine today they would still be the periah's of the world and it could be years before the West is buying their gas again.
I can't see the price falling anytime soon so even with Windfall taxes Serica should be just fine.
Mick Pavey takes a look at the accounts here and finds things others might have missed.
https://www.youtube.com/watch?v=k06aTF-0VpE
As always Dick said it much better than I ever could.
My original point was if the UK and EU are pushing for more home produced oil and gas (which they obviously are) then JOG is suddenly in a very strong position. It is very possible that the oil and gas coming from Russia may suddenly stop and if that happens the oil that JOG owns will be even more valuable than it already is.
Common sense tells me that unless something very unexpected happens in Russia (decapitation) resulting in a full withdrawal and peace talks, then even the worst management team can make money here.
Also possibly related, BP and Shell are suddenly looking elsewhere for partnerships given their pulling out of Russian companies.
I take your points but if the UK and EU want to be less reliant on Russian oil and gas then they have no choice but to push for every available barrel from the North Sea.
My holding is very modest and currently in profit so I'm not overly concerned right now but hoping common sense prevails.
It's hard to believe that given the value of JOG's assets has more than doubled in recent months that the price has not.
In the past we have seen huge shifts in the price on no news but now when the world is going mad and the price of oil is going through the roof we see nothing here.
The calm before the storm maybe?
While I'm really glad I bought back in here I just wish I'd listened to that wee voice that was telling me not to rush.
I spotted the results and bought immediately the market opened then watched the price fall 10%.
Worse still it was no surprise as the price of good companies often falls after good results but I was so eager I went ahead anyway and consequently am now up only 15% when I could have been up around 25%.
Oh well - Mustn't Grumble.