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You got that one spectacularly wrong then.
Whassat mean then? It doesn't look important but doesn't seem to make much sense either.
I liken DES to say someone who has all the constituent parts of a Ferrari 250 GTO in a big pile but without the slightest idea regarding automotive mechanics or how to begin to assemble it and even if he did he only has a small capacity adjustable spanner he made in metal work at school at his disposal. His next door neighbour however, knows all about building cars and is eyeing up the pile of bits realising they'll remain that way unless he makes his neighbour a reasonable offer and builds it himself with the help of his mate who'll then want the sealions share of it.
Yep. According to the RNS they could have as little as 15m barrels down there. As far as them being smart well each to their opinion. They weren't so smart when they leaked info like a seive and went off half-cocked on the water discovery. They only have themselves to blame for the obvious lack of confidence the market has in them. Take your point on the RKH deal though. I'm still not sure they couldn't have struck a much better deal, and the current SP bears this out, but time will tell. In comparison FOGL's farm-in deal seemed much better and they've yet to discover oil. Funny old business.
With DES market cap being so low then why the hell don't PMO/RKH mount a hostile t/o bid if they reckon that they are sitting on a bigger field than sea lion. They're having to put in the infrastructure for Sea Lion anyway so would make sense wouldn't it? The oil in the ground is worthless to DES without intervention by a third party. Why farm in when you can just take the lot for the right price. DES' position can't the that strong can it?
Well it's a pretty modest rise considering the RNS. I'd have expected a lot more but looks like most people have fallen out of love with this company or just don't beleive a thing they say. It's only when their fate is decided by PMO/RKH that you'll make any money here. I took a big hit following the oil to water fiasco and even though I reckon there's upside here I wouldn't touch them with a sterilised bent bargepole. Heart ruling the head unfortunately, which is not the best way to trade or invest. I hate DES.
With no news this share isn't going anywhere. The board have hardly enough money to pay their over-inflated wages. At 25p they can't raise funds through a placing either. Their fortunes lie with others and aren't of their own making.
Ex dividend date plus a bad day for the markets generally.
My average for DES is 174 and I've lost loads on this share. I think I'm going to give it until the end of this week and put what's left into FOGL. That's on the basis that any good fortune that DES may have will be reflected in FOGL directly/indirectly. Additionally, FOGL haven't yet demonstrated their capacity for incompetence and generally buffoonery. I'll never ride a share all the way down like this one ever again.
How come the most recent post on ARM appears to be 29th Oct.