Member Info for BareNeccessities

I've bought and traded this since 32.5p.

Sold out yesterday at 50.1p after getting the last batch at 40p, and back in earlier at 47.3p after seeing the FTSE trying to trim it's losses - shame I didn't get in, in the 46's, but was hoping for lower entry. Nevermind.

However this time my intention is to hold, as I agree with the others that we look set for a re-rate.

GL all whatever your position here.

....folks. Nothing moves in a straight line. Economies won't shut again. Only a matter of time before this re-rates.

....reduced their short marginally. Total shorts above the reporting threshold now at 7.97%.

Canary - Uganda aside, it takes time to transform a company of this size. They've already got rid of a few bad apples, reshuffled the board and have the new CEO starting on the 1st.

A new CEO that has both African oil experience and good financial nouse. He will want to keep the momentum going in the company's progress, and make an impact as soon as possible by hitting the ground running.

Once we balance the books somewhat, and when the oil price allows, I'm sure exploration will be back on the cards.

The main focus right now is to reduce debt, capex, streamline and improve returns on every barrel of oil we produce. All of which the company appears to be doing, with the milestone getting out of Uganda (we'll agree to disagree on the price).

We also had the RBL agreed with the current debt, so don't envisage any problems on the next review if our debt has been significantly reduced this year.

Also as has already been pointed out, our hedges are worth their weight in gold right now.

Lol Canary - like others have said, it's only worth what someone is prepared to pay and like I said it's been a troublesome asset for Tullow. Especially with all the legal drama and that lunatic resident filing legal challenges all the time.

Wow, this board has transformed after a few days away with some good discussion.

Personally I will be glad to see the back of Uganda. It has been nothing but trouble for Tullow. As for the price, I think it was a good price given the circumstances. You've got to remember that deal was done in the absolute thick of the pandemic and financial meltdown. A bird in the hand and all that....

Ftse futures just gone blue too, and Dow is on the verge of too. Hopefully an up day across the board tomorrow. Can all change between now and then though lol

Unless you're trading this, concentrate on the fundamentals, look ahead and ignore the short term panic in the market.

If you can, make the most of any weakness and add. Oil won't stay sub $40 for an extended period of time. If not, hold.

The oil market stinks atm, it's a case of rinse and repeat. The big boys are making millions by spooking the market and then scooping up on the flip side.

Hopefully another up week overall coming up.

One thing we can be certain of is that any volatility and the d!c.k swinging and posturing will be back, and there'll be about 10 pages of drivel on this board.

in here around lunctime.

Unfortunately wasn't quick enough out of the blocks this morning but still manged to get 10k shares under 60p (shown as a sell) as it looks like it's dying to take off.

Wish me luck! ;)

must be a lot of bile being spouted. Time for a few days off here.

GL all in, we know where the SP will end up. No concerns here. Buy or hold as others have said. End of chat.

Google Uncrossing Trade. It's not a buy or a sell. This isn't a dig, but you should understand that before investing.

Looking to have a crack at $42.....have I missed something?

Same here Xel, very happy to be in a circa 10p+ trading range in comparison to 2 weeks ago. We all know how suddenly this can rise on any positive news, high volume or sentiment.

We may linger around this range until month end, but I believe July will likely be the next significant leg up as others have pointed out. The new CEO will want to make an immediate impact to shareholders. Plus, we could get a Kenya update any day as well as finalisation of Uganda asset sale. Lots of positives on the horizon company-wise, but nobody knows what the market will do one day to the next....not even the so called market 'Experts' i.e. Goldman Sachs etc. You can't predict the unpredictable.

Lol, I'm glad others have spoken up as I was thinking the same, and just thought I was being a miserable bugger! ;)

Tornadotony,

Top man, and thanks for the info - appreciate it. Will have nose.

Cheers.

They are referring to gaps in charts. YouTube is a good place to start to understand the basics of candlestick charts.

You can also sign up to trading view once you have an understanding and start studying live charts.

Pretty sure he used to be Rd12 and Oldtimer1963. Both clowns, and the former being an absolute lunatic.

I use Degiro (Active account), always buy or sell at an exact price I want via limit order. Never had an issue.

Great app/platform and instant execution. Super low fees too.

Wiggy - complete opposite. Expected a pull back, and here for at least a £1. So not concerned about daily fluctuations. We are in a new trading range, that's the key here.