The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
No one was saying 0.8 apart from Joey and Leathal1979, possibly cawcaw too but I only checked some old pages of the board briefly... anyway, both were labelled derampers.
It's very simple. Don't believe rampers on any stock, and especially don't believe their excuses when things don't pan out. This stock has a 50 million or thereabouts market cap. It could go higher or lower but at present that seems about right.
Not spot prices, market prices. This is from 2018 but they are still selling to vitol and at least back then the prices reflected the market prices.
https://www.marketscreener.com/quote/stock/SERINUS-ENERGY-PLC-43499855/news/Vitol-to-Buy-Gas-from-Serinus-Energy-plc-Moftinu-Onshore-Gas-Project-in-Romania-34468386/
'12/28/2018 EDT
Vitol has signed a deal with Jersey-registered Serinus Energy to purchase future natural gas production from the Moftinu onshore gas project in Romania. Vitol agreed to purchase the volumes from the start of production to the end of the following gas year, spanning from October to September. The gas is not required to be sold in Romania's centralized gas market and there is an option to extend the agreement. The two companies agreed to price the gas at an average of transactions concluded on Romania's two centralized gas markets. The deal also allows Serinus some flexibility in nominating delivered volumes every month.'
I don't think so, there is the windfall tax but they can offset development costs so it isn't so bad. Look at their rns and presentations and you see their realised gas and oil prices track the spot prices. In Tunisia, i think a percentage of oil has to be sold at a discount but its not a big discount, 10 percent under the prevailing price if i remember correctly.
It's approaching my buy in price again, missed it at 27.5 last time round...
Please remind me, did Art say the butane issue was resolved now? I'm going to check the video again but imho the production curve is the only substantial risk here.
Something is going on because there is almost no small selling or buying volume. It's all the seller dumping and someone or several someones picking them up.
Directors have been buying sice May in the 2s range or below, not huge buys but the chairman's salary is about 45000 so a 7000 buy is meaningful. Now it's actually non-executive directors buys that tend to predict performance as executives are too involved to be objective on average, but we can at least say that the board see the 2 - 2.5 level as good value.
It has however been nearly 3 months without operational news and it's not good enough. Compression was supposed to arrive in August, artificial lift was q4, lots more was promised. I hope the company is actually progressing. I like their plans a lot, but like so many companies, the question is whether they can deliver.
Gas producers don't want crazily high prices because it leads to demand destruction. It's not coming down to covid levels and may well remain sustainably high long term.
So what is happening here? I'm assuming some people are trading the dips and rises quite effectively; how does this work? Is it orchestrated or do people just get a feel, based on charts or whatever, for when to pile in, and then others join, then inexperienced investors see a breakout and buy at the top of the range and then the traders sell off?
It needs a production update that puts its trajectory sustainably to the upside. That's all it needs and nothing else will do.