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Looks like the board managed to shoot themselves in the foot again. I know it’s all about spreading the risk but the farm out seems to have produced a worse outcome than if they had just gone it alone and had a go from fcf. Oil is at such a high and yet down 7% plus so someone somewhere thinks something isn’t right
i thought the Farm Out was supposed to give the share price an uplift. We have been waiting for this for a long time and now we get it the price goes down. Not sure whether that means the terms are viewed as poor or the usual "sell on news" mantra.
Its still early in the day, but it has to be said its a pretty muted response to the RNS. A higher rise might have been expected as a result of Russia's actions alone so not sure any value has been put on the RNS at all! We will see fundamentals seem sound and prices are very attractive so value will out i am sure.
I think you are being a little unfair. The share price has doubled in 7 months or so, so those in then have done well. i think the issue is whether there is more upside or the business model of accumulating cash will have no marked effect on the share price. i also agree banking on drilling EIGG as a way to increase the share price is dangerous as then that makes this an exploration play which i gave up on many years ago as too risky. So its a good company but the time may be right for some to sell (though it may equally be right for others to buy). For me, i'm undecided and maybe will at least wait for the divi