The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Looks like a fair amount of decent buys this morning although volume not huge. I am happy with the news, guess it just came at a time when oil is in the doldrums. MM still playing silly bugger with the share price by the looks of things too.
Nice to have some news here to kick things off. Pesh looks great!
Tell them Murat.....
Murat Özgül, Chief Executive of Genel, said:
"Peshkabir continues to exceed our expectations. As the field is part of the Tawke PSC, these are high-value barrels to Genel that benefit from the Receivable Settlement Agreement and will further bolster our free cash flow generation, which is currently over $10 million a month.
With five of the six 2018 wells at Peshkabir yet to be completed, and wells set to be drilled on both the Tawke and Taq Taq fields in the second half of the year, we have significant opportunities ahead."
Commendable bit of trading ifonly. I put my stake i had in pmo in here which has since doubled so i'm not lucky enough to trade. I am stuck in this trash unfortunately. One day i hope to get out but could be waiting a while. With the level of short interest here it will take a miracle to get the share price up as they always get their own way. If oil goes to $100 or a $5bn contract lands they will manage to make sure this goes nowhere. Waiting game now. Never known an sfo investigation or any investigation for that matter to any company have the effect it has had here and never ending pain. Glencore only dropped about 6%!
Can't deny this is a dog of a share and likely better short term opportunities elsewhere but with extreme patience I hope that once they get some new management and with a little luck they can turn this ship around. Decent assets, balance sheet is ok, just requires a lot of patience. Today's update seemed fine to me, ticking along.
Surprised there is still no news? Looks like GKP is starting to motor lately. As i said last week, its just a matter of time. The trio in charge here are beavering away ready for a few surprises i reckon...... aka Murat the dark horse, Esa the deal maker, and big Billy Higgs. These guys seem to have a good handle on things and really think they want to show us shareholders what they can do and deliver
My thoughts Hawkey fwiw-
I'm very vocal at times and don't deny i'm frustrated that we have needlessly fallen back when some news could have easily propped up the share price. I also could have traded this many times and been better off. But I have to trust my research and the investment potential here. Your reasons are documented here so I won't repeat them but a NED buying £230k of stock recently suggests they have a better idea of what is going on behind the scenes here than I do.You don't put that amount of money in for a joke. I need to remain optimistic and will. I have bought more at what i think is cheap prices this week to add to my conviction. The NED buy in and i guess insider dealing rules perhaps limited the 'short term' news flow- well i like to think so anyway, but i don't know. Management will put a rocket under this soon I am certain. If you are not in your out.... I haven't seen them this excited since I have been invested so remain hopeful. Come on Genel!!!
Been in this over the years JL, i can be critical and i feared with lack of news this would happen. However if you believe, like i do, its just a matter of time. Look at the presentations and positive noises from Murat, Bill, Esa, its only a matter of time, i'm just annoyed i'ts taking longer than expected. Hopeful they will deliver!
Unfortunately this was inevitable.Oil is actually flat and this down yet another 5%. Writing been on the wall for a month now with the volume and interest non existent. Always easy to say wish i sold- i always say it but these guys talked a big game and have delivered nothing, no news on anything since. People get bored and sell. If they had delivered even some of the news they talked about we could have been up what we are down, c'est la vie. Roll of the dice!
What am i looking for in it? It was the same presentation as the last results saying most of the same stuff as the presentations before that? Where is the news?.....
We have cash, we have $80 oil, we have billions in contingent resources, we have drilling and increased production, we have a license to print money. This share should not be falling in this environment at this market cap. It is down to the BOD to convey this to the market.
... Oh and what is that 3 trades in half an hour. Says it all really. All other indebted oil companies rocketing today and this cash rich almost debt free company falling, all because management have ruined sentiment here again. Well done