RE: 18.889 Aug 2019 10:32
I am with The Greater Fool on this. Sometimes, although painful as it can be, you have admit you made a bad call. I have been in since 2009 enjoying the highs - who could not -, the flash crash drama and the general long and painful drip downwards of the share price.
Who knows, this might just come good, but there are absolutely no signs of a board committed to anything but paying themselves handsomely while they can. If it were my firm I would be preserving cash at all costs. The only insurance - the (sort of) cash generating assets in Egypt is in the process of being sold.
This is now down to a binary bet on with Export Finance will be granted. Logic says that, given the current uncertainties both at home and abroad around energy, HMG would ensure that this is developed to cover the UK's energy needs with a very friendly supplier. If ever were a mutually beneficial relationship then this is it FIG gets defence guarantees and the UK energy. However, fashion is against the oil industry at present and we are all fully aware of the political 'fun' at home. I am coming round to the thought that Premier is a far better hedge, albeit without the same geared rewards. With this in mind, I have cut the kids' ISA holds of RKH by 50% each today and shaved 20% off mine. I might well do another chunk (and for me it is a chunk of my overall net worth) of mine shortly. If I were Premier I would just let this company run aground and pick up the remains.