The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
Hah I remember noticing 15.4p going as well. My ideal case is a rising three down to 20.4, bouncing off of there, then breaking 24. If it breaks below 20.4, and this is what my original thesis was, we bounce off 18.
Honestly, if I were to judge based purely on TA and historical price action, I'd say we're in for a retrace to 17-18p levels, not confident enough to scalp it, but I have some cash waiting on the sidelines for just that option. The news environment Char is in however, could easily take precedence in the very short term, which is why I won't be putting my money where my mouth is. So for those waiting for a retrace, I want to say it is likely to happen, but you won't make a killing off the difference.
https://twitter.com/asxsv/status/1485359822518501379?t=pqUZvHSEnNnXTmUTt_tfgQ&s=09
Completely unrelated, I wouldn't worry.
http://www.bom.gov.au/tsunami/
As you can see, no coastal areas on, or indeed around Australia are at risk. The drilling won't be affected in any way by the Volcano or subsequent oceanic movements.
Read the room Dan, we don't appreciate cheap insults against people providing us the good service of publicity.
I think MMs will give it a go nonetheless
Some big buys nearing the end
I can't stop browsing all tangible info on ADV, I should be working. Beating you is not a good thing haha.
https://twitter.com/advanceplc/status/1479500331906215950?s=28
Above 80$ a barrel today!
If it hit £1 I could practically retire
I'm chalking it up to the simple "buy the rumor, sell the news" effect. Smart investors knew about progression in the project a day in advance, and adjusted accordingly. This is so common it's not surprising. We'll stabilize soon enough and likely get another leg up on the eve of the set spud date, or perhaps this time only after the actual RNS. All this really means is that post-handover of the rig, the price went up about 7%, in real terms.
Todays update from Optiva Securities:
"As a function of high reservoir productivity that has already been demonstrated on Buffalo, the proposed re-development of the field is likely to deliver rapid payback to ADV as initial rates of production generate annual cash flow of up $180 - $200m net to the company. We expect that production volumes will decline rapidly after approximately two years. However, at a constant oil price of $70 over the medium term, we have calculated an NPV of around $231m net to the company for its 50% interest in the field. This translates to a per share indicative valuation of more than 16p, comfortably in excess of the current share price. Even if Buffalo was to demonstrate the gross 1C resources outcome of 16 mmbbls, our economics still suggest a robust NPV per share of 7.6p at current oil prices demonstrating that the Buffalo re-development project has exceptional downside protection for investors."
Anything below a SP of 7p should still be a solid buy.
Ah yeah, closed at 4.35, excellent, couldn't be more pleased.