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This has been the irrational activity of this stock for the last 15 years. Great earthshaking news? Price drops. No news? Price drops. This stock has lost all respect and no one willing to invest. Sure, daytraders taking a profit, but so many shareholders are so far underwater that they have set price points to unload/exit. So there is strong resistance at every level. The only thing longs are waiting for is the final buyout price. No concern for daily price or attempts to shake the tree. It was lost money long ago and us longs are just hoping for a buyout price that POQ has promised us we will be rewarding. IMHO.
They are probably planning an exit strategy.
At least with FO... and that is why we are "subtly" starting to hear more and more about Karoo. Same thing happened when they were drilling the world's greatest basin in the Mako Trough in Hungary. When it was a bust, suddenly there was this talk of this new worlds greatest basin called the Beetaloo. Nothing was ever mentioned of Hungary again. So soon we will exit Beetaloo and show interest in the Karoo...and it will all start again. Ten years of screwing shareholders in each basin.
tsoprano1,
Exactly. Spot on. Subtle, but I noticed it also. Scares the sh*t out of me. Hungary was going to be the greatest find on earth...then nothing and the Beetaloo was going to be "it". Now all of a sudden the news of Karoo??? Subtle, but a clue nonetheless.
Cheers
Disturbing...
http://badbillionaires.blogspot.com/2018/01/marc-alan-bruner-oil-gas-tycoon.html?m=1
"Marc Brunner did great harm to the market believing in Falcon. Especially related to Hungary."
No truer words written.
Many newcomers on this board are oblivious to this. Brunner or his ilk once said that FO would be bigger than Microsoft. This was with Hungary only...no Beetaloo on the radar. So, for us longs, we have heard all the promises, potentials, failures and excuses before. It is a manipulated stock by some very big players. If this was only going to be worth less than a dollar for one of the largest gas basins in the world, you would not have these big players and institutions hanging on for all these years with no ROI, and with same CEO...unless they knew something and wanted retailers to think it will be worth pennies so they perhaps give up their shares prematurely...
THIS IS ONE OF THE BIGGEST GAS FIELDS IN THE WORLD... This should make many of us new multi millionaires...don't settle for less. Hold your shares till the sale is made.
Soly from Agoracom not looking so crazy anymore? He's right, that's why...at least partially.
I have been in this play 16 years now and I agree with tnbird's post.
When there is closure on this play, I'd like some kind of investigation opened, for everything stinks in this stock. The seeming lies, the lack of transparency, the way the news releases are worded to lead you to believe something other than what was really written. This is absolute crap and there are many of us that are in too deep and too long to just sell and take the loss.
There needs to be transparency and accountability...and justice served.
It's almost like there are powers at play here...not unlike a cartel...just my humble opinion of course.
tda4falcon,
I'm with you. I've been long on this since 2005. Far too long. There is growing part of me that feels this play is the greatest scam of the century. But a waning bigger part of me believes in the fundamentals of this play. We'll see. I've lowered my expectations considerably since Bruner once said this will be bigger than Microsoft, but I still expect north of $2 US if plays are proven. 22.5% of one of the biggest gas plays in the world has got to be worth more than $2 billion when you look at other deals...imho