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Silly season again being dragged down with the oil price, I'm still going to wait it out as the company is worth far more than the current market price
To think we were above 60p with no financial agreement in place and now back at 38p again shows how much damage these hedge funds cause they really are despicable.
The market will forget we have the hedges in place and we will still go down , I don't expect this drop will last long its all rumours right now and China are slowly opening back up after covid lockdowns , the supply demand gap will increase as the SPR is now also out the way.
Oils getting absolutely trashed when the Yanks come online.
What's happened as I'm struggling to understand the collapse when the SPR has ended and we're heading into winter and a few articles yesterday regarding warmer the usual weather should in noway cause a drop like this.
We've been constantly ground down for a while.
It's not even rising with oil now however will always fall when it drops.
Bugger things at play still I feel and the shorters still playing games.
I firmly believe we will have a huge uplift once our 2 main news items land possibly double and some., its frustrating yes however I took the risk at 6.7p and won't be going anywhere at these prices and will just wait some more.
Until it gets above my average then I won't risk even trading this and will just continue to churn the dividends back in and keep increasing the amount received each time.
At some point it's going to get take out so will sit patiently for that event.
What's to see were getting pushed around with the Americans keep smashing the oil price down
We need 1 of our 2 big pieces of news out to put some life back here, very under valued still Watford my £1 sell/ review price.
I've added again today, news could land at anytime now and if its a contract will hopefully have been worth waiting.
About 4.5 billon was the value which was a share price of £4.52 and the highest point we ever had.
If you remember we we're all waiting for the £8 offer and 8 billion valuation and whilst we all held TK sold his shares and didn't disclose to the market until it was found out 6 months or more later with a quite pathetic RNS based on administration issues.
TK proceeded over the CPR when we moved off aim to the main market , share price collapsed on that from £1.50ish as it only accouted for 25% of the field (still does) so our reserves are nowhere near what they actually are and nobody now seems very keen on proving otherwise.
JF decimated our last hopes rather than refinancing the debt around the 42p mark he let us slide all the way to under 1p with his disgraceful debt for equity swap and we've never really recovered from that all be it at that stage we could easily have folded.
In perspective the highest price we hit was £4 52 in old money equivalent we are now 2p.
That's still 25% higher than we are now and not accounting for the 2 company changing deals on the horizon.
Additionally it's a shame the market didn't react the opposite way when it was rated at 77p all bobbins and probably in cahoots with the latest short positions.