Member Info for marineclark

The RBL facitliy of $200 million from 4 reputable intertnation banks was only closed less than 2 weeks ago, even less if counting working days. This would no doubt have added additional working hours for the auditors and JSE working to get the full audited results out on time.

It will be released today, otherwise they would have to issue a RNS stating a delay.

Roxi, Opec+ have stated they will cut production to increase oil prices until the end of 2024. So we have guaranteed oil prices at current levels or higher for another 18 months, it couldnt get any better for oil producers such as JSE.

Thanks scored,

I think, imo, that JSE is by far the better proposition. its has the reserves, production, cash, and growth, plus low share price.

just from a cursory check on Stockopedia, TXP, seems quite high, market cap, relative to current production, and it doesnt appear to cash richewither. Is expected production increase dependent on finding oil/gas.

Good luck with TXP, it doesnt check my boxes yet, but may do in the future.

I think the sustained price drop over 3 months was down to a forced instituational seller, given the volume. Its just a question of waiting for it the end, which chart wise, looks probable. Its been three months of it, it can't last forever. I'll be happy for 25 percent profit on this in the short term.

Just to get the juices flowing...

Buying at 45p and selling at 55p is a 22 percent profit.

Buying at 45p and selling at 65p is a 45 percent profit.

or imagine if we get back to 90p, which was where we were just 3 months ago when the market was expecting full production from Montara.

I think 90p is doable in six months, imo. 55p and then 65p much sooner. By then, Aktara should be coming close to production in another six months, which is is close enough but not too far away for the the market to price in.

Chart wise its looking like the perfect entry point for maximum profits. I sold out with small losses on the way down from 80p, now should reap the reward of waiting patiently for the right timing.

DYOR of course, as i said, barring any disasters.

Price has held level for the last 3 days, a good sign. Longer would be better, but with news coming out next Tuesday, and price action in the last elliot wave, afterwhich the downtrend should have ended, the factors are setting up for a recovery at long last. Price has been in a downtrend for almost 3 months. However, unlike riskier shares, this does have good fundamentals to at least support the price at low levels. It won't be dropping to nil like some binary stocks out there.

barring a disaster, I see a recovery back to 55p at first, a 20 percent profit from current levels in the short term. Lets be patient this time, and get past that first hurdle. But once broken next resistance would be 65p, and so on. Good luck, and DYOR.

Still in a downtrend but in the last leg, so when it broke 48p I didnt bother selling like I did when it broke higher support levels. Price action below 48p has been tepid, as can be expected due to the final wave of sellling. Bounced off lows around 45p target level that I predicted when the price was much higher. I can't see the price dropping much further around these levels. Happy to hold as fundamentals are good.

https://www.jadestone-energy.com/wp-content/uploads/2023/04/20230425-Jadestone-FY22-results-presentation-vF.pdf

The problem is price is still in a downtrend. However, based on elliot wave theory we should be on the last wave down before a bigger correction. I'm just hoping the last wave is a weak one, and it doesnt break current support. In the long run, would be a excellecent entry point though for a buy and hold.

Back to support again. Trading this share is like getting whipped in the ass again and again. But pain is pleasure. Keep whipping it!

Price is moving up strongly in a long time, if it holds on close, then I would call this a bottom. Eventually after calling several bottoms, this could be it:) Seller could finally be gone.

Seeing a few days of consolidation so decided to buy back in at 48.5p. Did say was going to wait for proper reversal but changed my mind as price is close enough to my price target of 45p. My recent price targets have been pretty accurate I have to say. I hope support holds this time. Whats interesting is the high volumes with very tight price action. That typical occurs near bottoms. However, its too early to make any firm conclusions based on a few days. I would normally wait for a few weeks of a base forming before buying, but can always sell again if support breaks again. Good luck and DYOR.

Good luck scored.

I'm out for now. Downtrend is still in force imo. Ive had a look at AXL, it looks expensive(PE ratio is very high), so it look risky to me, but just my opinion, could be wrong.

I've bought into AET instead, I see a trend change there, and fundementals look decent.
I'll be back here one day , but I'll be more patient this time- greed took over the brain the last time - could be months though.

Also now that the 65p has been decivsely broken, it portends a big drop ahead. I was right the first time, but sometimes the price can hover at the level after it was broken the first time, but then resume its downtrend with force not so long after. The 45p range is possible.

Scored, I'll check TXP out thanks.

I sold out yesterday as I didnt want to have a position before the news. Had a feeling the cash situation was bad. This company has more tricks to fool investors than Houdini.

Problem is this is still in downtrend. Have tried to buy at support levels, but they have been broken time and again. I won;t be buying at the next support level. This time I will for a proper trend reversal, where the price is acutally making higher lows and then higher highs. The frequent selling, while it has minimised losses, does add up, so I would rather just wait until the trend reveral signal before trading in here again.

Feel sorry for anyone who bought in at 90p, almost a 40 percent loss., or drawdown. I'm out for while, could be months.

I was in this when it went up 75 percent on the news of the new CEO, and I was also in here when it dropped 50 percent shortly after. This is a binary share, all or nothing. Since I lost 50 percent I will have nothing more to do with this share. It could dropp another 50 percent from here.If you want much less risk, but less upside, than JSE(jadestone energy) is good choice imo. BUt if not, good luck here.

I think its the ii's not the PI, as the volumes in the last 4 weeks has been quite high, much higher than the average volumes.

Bought back in, half a position. Will add other half after the results. Price bought was less than what I sold on Thursday, but more importantly I see early shoots of a reversal at this level, and a possible double bottom(unconfirmed). If there had been further strong selling on open I wouldn't have bought.

If this is the bottom, will hold for a few months. Would be happy for 20 percent profit. It may seem that scraping a few pence is pointless, but its really looking for a trend change from down to up, once that has been found, than a longer hold is the point.

Intersting candlestick pattern formed on Friday, known as a hammer, a bullish signal, possibly a reversal signal. The price did break the long term support of 65p, but this can happen because lots of traders have stops at this price and that can cause a flood sells which causes a spike down. Price closed near the top of the candle, so that is positve. Will need to see what happens on Monday, if there is follow through, upwards. I may be tempted to take a smaller position long this time if I see follow through next week. I was oversized the last time, but sold quickly when it when to mitigate any losses.

Yes, the tomfollery around the RNS's(end of feb, then few days later, then month later, restart only one well, then still confusion about when full production is likely to resume) and lack of certainty about when the when the full restart of Montara caused a sell off, it is the main asset, so it is a big deal, but with OIl price rising, and production eventually getting to full production, its hard to argue against the long term picture being positve. However, they are burning through large sums of cash.

It may be prudent to wait until the results come out for traders though as who knows what more tricks they have up the sleeve.

Haha, i recommend reading volume 1 on the toilet, volume 2 is coming...