Member Info for Madmaxium

GG - understand your point of view, just one thing I feel is flawed in your advice, the market moves ahead of news, if a investor waited like you suggest for all these things to be concrete and agreed, that would be the top of the market you would be advising them to buy in at, just like you and become trapped at high prices.
Maybe rethink your strategy as it’s a guaranteed way to always be left holding the bag.

Depends in4 we will know by Friday

That’s really interesting, a lot of small sells retail investors using this news to get out, retail isn’t buying what Eytan is selling.

Someone is selling hard 62 million in 5 mins, news must be coming,

Billy - you should be glad people like John are here, if everyone is hopeful and positive about a stock it is not a good sign, opposing views are a good indicator in my book. I joke with John the day he becomes bullish again I will sell.

I sold a chunk of shares during the last rns because Eytan switched gears from previous repeated we will increase production and play it safe which I felt was wise. To Uruguay farm out talk, I believe we will test near lows again before earnings report comes out.

I do believe this stock will rise but I also believe it will test investors ability to the core. It will be full of swings and sudden drops, a plan of when to get out is vital for this stock and not follow the narrative given by BOD as they will always say everything is fine on a sinking ship while they pop on a life jacket and give you a lead weight.
Take peoples opposing views for what they are, Opposing views! No one has a crystal ball and investing is never a certain game.

Something that doesn’t seem to be on the radar for investors here yet,
Uruguay pledged 10% of its offshore sea to marine protection, a large section in off-1 marked out as priority protection zone, you can see in the link below a picture of marked out areas.
I haven’t heard eytan mention anything about this or the fact drilling will be very hard to get approval for if it lands in any of these areas.
Worth being aware of at this point.

https://dialogochino.net/en/extractive-industries/64683-uruguay-wants-to-increase-marine-protection-and-offshore-oil-mining/

In4 - have you looked through that info regards the deal with PRD both parties can cancelled the deal at any point up till monies are paid, PRD did another placing last week I would not feel so comfortable that the deal will go as planned watch out for a rug pull on that one.

I Can’t deny the order flow John, large buys are appearing, doesn’t mean I agree with CEG change in approach away from production, I am here to make money and following the money is the best way to do it.
I do believe it to be a bull trap if we do start to rally hard as certain things aren’t adding up, I felt back in November we would rally in march looking at the market,
With the banks getting a massive bail out of 2 trillion liquidity will flow to scarce commodities which is energy focused right now oil and Nat gas are primed for a boost along with stocks.

Any one else spotting these order flows - 74 million bought Tuesday at the close and now 362 million yesterday, something big is coming. A lot of shares are being bought up off the exchange

Thanks for that info

In4cedros - do you know what Cory production is at the moment I have tried to find something specific on production there, as the terms of the conditional sale is it need to meet 100 bpd before a million is paid no saying it won’t be if it held production at 99 bpd predator wouldn’t have to cough up a million out of the aggregate deal

That was the stated aim last year production, they also said they would report on that progress quarterly which they haven’t, the last report was a decrease in production last year 6% if I remember correctly then delay of production improvements due to weather then silence on production in march and change of focus via a distraction in Uruguay, I can see eytan is trying to buy time and deflect off production which he pushed as the main goal last year. Either he is misinformed by the effectiveness of these work over plans will be on production and is seeing it, the truth is how can there be any real accuracy in evaluating this as they are old wells oil recover could turn into being more expensive then selling the oil at these levels that’s a bad business…Or there is a panic going on knowing production can’t improve with these wells selling off acreage to survive till plan B push Uruguay and hope to god a major is interested which by now you would think they would have been approached since there is so much interest in oil production away from Russia a deal would have been on the agenda.
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I have read over very old rns regards it’s previous reincarnations the wording really has never changed, it’s always 3-6 months positive timeframe when that doesn’t bear fruits it jumps to 12 months then back to 3-6, it’s a old tactic used far to often.

The real out of blue hope is shell makes a discovery on there acreages and CEG will benefit from the hype. Till then it’s survival mode.

Too much mixed messaging from the ceo in such a short space of time.

Main focus is either production increase or a risk play in Uruguay pick one and stick with it, the mixed signals is leaving the market without confidence. It’s a shame after all the work they have done to rectify the balance sheet he is choosing to jump around on tasks and not deliver on promises, production will be at a loss now with these sales, revenue lower if they don’t succeed in Uruguay CEG is backing itself into a corner again like Bahamas i doubt creditors will be so accommodating a second time. 3 times I have noticed he has tried to imply investors are stuck in the past and need to change their view of CEG last thing a ceo should want to do is blame the market. Take it on the chin Eytan the investors aren’t the issue here your changing agenda more than I change my socks!

Oh come on John don’t be so sarcastic, at 8.30 today there was a very substantial buy on the exchange to the moon we go!

I don’t disagree with any here regards the last RNS it was not what should have been the focus for CEG no mention on production increases at all. Thing is what is the market wanting to see in the next few months is it production increase news or it is cash on hand?
I watched an interesting video by Jeffery gundlach and felix zulauf discussing global markets on YouTube their view of oil markets for 24-25 may interest people here.
If it’s cash on the balance sheet there is a substantial increase to the books compared with the last 5 year average which in a oil downturn temporarily would be a good outcome for this stock in particular,
Regards willec call for 10p I don’t disagree it’s a little high and it may seem like a pipe dream but we have a old support now resistance line at 9.2p on the 12 month chart, this stock is due a return to the mean a attempt at that line is plausible from a technical standpoint,

Willec next you can come back and say your broker offers you special execution prices, although it would look like a conflict of interest issue really wouldn’t want to go down that route.

Lol icemax I noticed that too, thought how did he managed that, oh wait he didn’t!

Glad I took profits now,

I wouldn’t say I have flipped bearish on this stock, I am a technical trader and I see bullish potential, but I agree with you John I can see the bait and switch tactic they are using, I do believe the market will punish them for the tempo change in that statement so I have removed some of my profits for a lower price movement.
I can’t fully write off the farm out potential as it is a deflation time play majors use to invest and expand there portfolios during low oil prices seen it a number of times.
But I think the narrative is being lost in Uruguay like the Bahamas, the market will correct their prospective hopefully and Eytan will listen.

I will be honest no comments on any increase in bpd which has been stated as a main goal many times In previous work plans that would be completed by now or at least improved - production is cash flow.
I would have expected to hear of production increase since last year they said weather was a delaying factor. A lot of repeat information in this statement.
I have a feeling we are about to retest the lows on that statement.