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Remember frustratingly selling here in 40's thinking what a stupid price this was then. Now at this price it is simply astonishing that Ophir management are allowing this to happen and refuse to say a word on anything to stop the constant destruction of share price. Market still does not like Fortuna prospects presumably and i would argue if they had just written it off months ago the share price would probably be in a better place now with the producing assets being centre stage? This is still a 25,000 bopd producer unless anything has changed- with a reasonable balance sheet. You would have thought the new guy would have at least had the sense to deliver some news on the numerous assets Ophir hold and mount some kind of defense. Not seen anything quite like it
I have read up on the website and still don't see how this company is worth anything like £150m. Investors on here claiming Sound are just throwing darts at a board for drill locations and hot air and this is worth that amount of money? I have a keen interest and history in losing money in oil or gas companies but will continue to watch. Crazy people on here providing entertainment anyway even though i do not really have a clue what most are on about lol. Some of the investor videos are cringe so guess it is mocking the CEO. Not deramping or ramping just an observer for now possible trade at some stage but seems v high valuation but wtfdik
Still cannot get over the share price here. Can't really see why this has fallen so much apart from the fact it is an oil company. They still make tons of money at this oil price and has been dragged down with the debt ridden ones. Heads must be rolling at Genel HQ or they should be. They need to wake up. Not long before cash matches market cap.
I will preface this by saying that i still believe Genel is one of the best opportunities in the market let alone the oil space. I am bored of repeating myself as well saying this but news and progress is needed. Management were quite vocal near the beginning of the year about returning shareholder value and exciting projects this year. So far there has been nothing achieved or even mentioned on anything and it is almost December. The oil decline is mainly responsible for the fall but I reckon with news flow better managed it would not have been this severe. Why has no news on gas or Bina Bawi oil been communicated. They must see that a quarterly update is not sufficient or beneficial to shareholder value. I do not condone pointless statements nor holding updates but they really should be achieving something and it begs the question why are they not? The silence is deafening and i felt i was almost forced out because they simply will not see how damaging it is- maybe not to the company or balance sheet- but to the share price going about things the way they are. This share behaves like an aim share and needs news. This drop was inevitable unfortunately and no doubt as Boyobach mentioned more pain to come as its now buckled. This is the risk and i just wish Genel BOD would understand that this year has been a GOLDEN opportunity to grow the share price and transform us and they have wasted it. Great balance sheet, cash, it is all there so why blow it the way they have and let the share price rot. It blows my mind. The share price here is plain stupid and who else can you blame
Another 5% drop for this debt free, cash generative company. Here is an idea- to Genel BOD- how about instead of watching this drop every single day in silence maybe demonstrate why you are earning massive salaries. A healthy balance sheet means s^^t when the share price drops daily whilst you deliver no news, say nothing, do nothing, communicate nothing.
Agree with your view JL. Would counter by saying this has major potential. Not capitalising this year on the momentum, cash, key developments has really stumped me. Such an enviable and company changing position management have had this year and to just stand by and do nothing is disappointing to say the least. If they had delivered some of what they talked about back in April i kid you not this could easily have been at £4 by now. The complete lack of communication, PR, news, progress is eroding this daily. And now the oil price is not helping. The company at present is worth £200m taking cash out the equation. Genel BOD are allowing this to happen nobody- else to blame. If they think we are worth £200m producing near 40,000 bopd then no wonder they are down the pub you mentioned JL as there is no hope
I do not know enough about Sound to pass any fair judgement but i have looked at this company a bit over the last year or so. Given the comments on here, I still struggle to see how an outfit seemingly drilling wildcat drills based on questionable targets and data can be worth £185 million. What is worth £185 million, or are there other assets? Cheers
I actually think Genel has held up ok throughout the recent turmoil but without any material news i think this is now stuffed. They have had almost the entire year now with no news on assets and it'll just fall with the rest of the market. It has now been too long. Still regret not selling at 300 when i think about it but got caught up in the hype
Share price is crazy here. What the heck is the new guy Alan doing? Seems hell bent on destroying every penny of shareholder value. Say something or just suspend the stock-absolute madness that they are allowing this to happen
Charts are useful but the fact of the matter is if Genel will not or maybe cannot release news then this will just drift and join in the downtrend with almost all oil and energy stocks at the moment. Fundamentally and operationally Genel are doing well but the lack of news this year has killed the share price imo.
Never rises when oil rises yet drops 10% when oil drops a couple of dollars. Never used to track oil but it tracks anything downwards now. Maybe some point in the next year or so the useless management here might try to say something to encourage investment. Fundamentals here exceed the pathetic share price but with nothing dynamic coming from management like pretty much always this just rots
Have to agree comeonvog. I still watch this albeit not as much as i used to (which was pretty much everyday!) The market has not been great and oil drop has not done Genel any favours but the BOD have been absolutely useless since March/April and with no exaggeration have delivered absolutely nothing in that time. Many probably have been expecting acquisition news, Bina Bawi news, Taq Taq news, Gas news (seemingly never ending lack of progress). Thank god for DNO and Tawke/Pesh. Always the potential here and always has been but BOD seem happy with results statements and then just sleep for 3 months until the next one. Perfect for traders i suppose but not investors. I thought this would be 3 or 4 quid by now and maybe it would have been if things had worked out differently. With Murat in charge doing nothing day after day I cannot see what the trigger will be to move this higher. People also do not like risk or oil generally at the moment. Will continue to watch out of curiosity
Also wanted to say to those mentioning the 100% gains here over the last year and how well this has done. Do you consider the current market cap and worth of the company as fair to shareholders given known knowns. I don't. In fact, i would say that I do not know how it is possible for a management team to deliver less than the company is worth given cash, production and assets. The only people that can deliver or change the dynamic when it comes to shareholder value is them and they are failing miserably. Would love to know what some of you guys think and what would you do in their position......
I would argue that it is because of management we recovered from the darkest days and now have a strong balance sheet. You have to admit that the BOD whilst crap at shareholder value and communication are technically top draw. At least they seem that way to me. I am still watching this at the moment as for years I see significant potential. Many, including myself, criticize management. I don't think this is unreasonable. Throughout this entire year we have never looked better fundamentally but Murat other than awarding himself free shares, in my eyes, has achieved very little for us. Surely news on something has to be around the corner? We are just milking DNO so what are the BOD currently doing at the moment??. Since we like to play armchair CEO's i was wondering what would you do at the moment? We do not know what constraints the BOD are up against. I would like to see Bina Bawi oil. This was discussed in March and still nothing. How about some clarity on the gas? Share buy back, dividend, market engagement?? Any thoughts?? For starters I would not leave 3 month gaps with no news on anything since that leaves us open to manipulation. Nothing material to report??....... well, why not....we keep getting told for years *and every trading update) that there are so many opportunities and so much going on and this is a dynamic exciting time so where is the news flow and excitement... how have you earned your colossal salary/bonus this year Murat?.... through DNO and oil going timely going up?! All out projects are glacial
Crazy to see Genel in the 1's again. Bad market so not specific but this should have been well north of here by now anyway. Thanks to Genel management not communicating or updating on the numerous assets and opportunities to the market and capitalising on the momentum it is back to square one. God knows what they have been doing or are up to apart from watching DNO drill oil. Market cap is comical, they will have as much cash as that soon