The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
130p finish would be nice.
So analysts predicted a gasoline draw of 713,000 barrels and we had a draw of 4.87 million. The number of times there is such a large discrepancy like this is crazy. If I was a consistently wrong in my job I would get fired. I read a lot about what experts say is going on with oil and I’ve come to the conclusion 95% of it is total made up intellectual crap spouted by “clever” people who think they know everything but get it wrong time and time again. My simple brain has drawn the conclusion that there will be a supply squeeze due to years of under investment combined with a few geopolitical issues (main one being Venezuela) plus world demand remaining averagely strong. So undervalued mid cap ollies actually pumping oil out of the ground will do well. If I’m wrong and lose money so be it but If I’m right I’m sure the “experts” will all be writing pages of *******s on how they predicted it all.....
PMO has held up well all things considered. We’re seeing higher lows so look forward to the higher highs. Even with the recent weakness in POO my monies still on a supply shortage as we go into 2019. November will be interesting as we’ll to start to see who is going to still continue to buy oil from Iran. Interesting times.
Rookie1: you are so right. I still get wound up about Fevertree. I liked the company a lot when it was floated but didn’t press the button. Then the share price kept going up and up. It doubled from the float price and I kicked myself again but still didn’t buy. Now look at it....in fact feel a bit sick putting it into words !!
Another 10% weekly increase please. I know it’s an obvious point but 5p increases like Fridays become very meaningful when people hold a high number of shares as they bought in the 60s or lower.
More and more ii investment is always a good sign. It’s been another nice week.
Seer: many thanks. Just wanted to sense check my own thoughts and as I see it you’ve often been right so I chose you to ask !! Thanks again.
Seer: if you don't mind me asking over what time frame are you now looking to hold PMO ? (with the usual caveat that POO remains stable, Trump doesn't end the world etc)
Will hit 115p any minute....
Seer: a very good way to look at it.
SK when you said 115 was it a typo of one digit and you meant 135 - if so you’ve just been proved right
We will not see 115p again this year or next. Yesterday tells me the market is finally believing POO won’t go down to the 40s. They are also working out how much cash PMO are making with POO in the 70s. The result is they think 129p is cheap hence why any sells yesterday got hoovered up. Higher highs and Higher lows from now on.
People are selling - but a lot are buying too. The only thing that makes sense is that ii's have bought into the theory that a supply shortage crisis is coming. There have been a number of articles on this in the past few weeks (and they are therefore ignoring the short term movements in POO)
Hyds: you are full of crap. But you do make me laugh and it looks like a very good call regarding a blue finish which I was not expecting after the start this morning.
Come on SK keep the faith - you’ve become our lucky charm !!
I admit these updates can be a bit of a disappointment and drag the share price down but I think this Thursday will be different . That recent June PMO presentation was bloody impressive regarding the companies current production and future. PMO have been clear that debt reduction will only accelerate in 2 HY 2018 and beyond if POO is above USD 65 (and boy is that looking good now) ii’s love consistency and I think Thursday will give them that and they will continue to jump into PMO. 150p by close of play Thursday.
I know it’s a meaningless metric but it just made me smile seeing PMOs market cap breach £1bn today.
Nice nice nice. Come on Tony no nasty surprises on Thursday please. Let’s just let the good ship PMO ride on the wave of an oil supply shortage that is only going to get worse in 2019.
GTLD: There is no way this will be 120p at close. The RBS upgrade and Olivia strength (that was for you SK !!) will send this over 130p today.
Thanks for posting - agree it was a very interesting read. I loved the line regarding future oil production: those that can’t can’t and those that can won’t. Agree with Alfa it mirrored a lot of the thoughts on this board over the past year or so.