RE: SKY NEWS - Sky's Ian King explains how smaller players in the oil industry are providing a future fo8 Jan 2020 14:42
Don't get too excited, one of them and another 25k buy are mine. I'm averaging down from the £$%^show debacle the mgt team created with the 2nd well miss plus insider trading etc from a month ago. To put things in perspective if my last 50k buy goes through at 12.41 I'll have 375k shares at roughly 25p average. Nothing to be happy about given I've had to sell some HZM (a truly well run company) in order to fund these recent buys. Majid and Graham had better deliver with this farm-out - They owe a lot of investors this courtesy after they allowed the company to be taken advantage of in the worst possible way. Bit of background on this, I twice called the company representatives early on the fateful day of the crazy descent from insider trading. Both times I was told they knew of no reason for the drop, and the company would be making a statement soon. I have an afternoon of meetings and return to a statement that communicates a second well miss 5 mins before the bell. I wrote some furious emails to Camarco and WH Ireland asking for an explanation given my earlier calls. And there it all ends. I'm stuck in this company, with the only options being to take a 65% hit, or average down. I took the latter due to the positive prospects still on offer. But at best I'm hoping to get my money back. I have zero trust or confidence in the bod after what happened recently (which isn't the first time they have been leaky). I get 20p plus and I'm out. People on here will say 'traders taking profit', when the rise gets stalled. This will be partly true. The other sellers will be people like me who have averaged down after getting caught out. GLA
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