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For me, its not a surprise to see this fall over the past few days. It has 2 risk factors for me, 1 there are still missing signatures. 2, Red deer is a complete gamble 50/50 in an un proven, never before discovered well from that area is far to risky for me. Its really all about Heron, and with that we wont know nothing till week commencing 9th. GLA
https://www.reuters.com/article/mongolia-refinery/mongolia-launches-construction-of-first-oil-refinery-with-indian-aid-idUSL4N1TO1TO
Do people think this time it will complete?
We shall see what happens, if we all agreed on everything the world would be a very boring place.
Cant compare the two, one made a business and from that, became an investor. The other, his business was investing.
"The rich dont work for money, they make money work for them".
Both became billionaires.
Investors who are hell bent on dreaming about making retirement money from a punt in the Markets, regardless of the very real threats, potential dangers and very real outcomes.
Some would say there pathologically committed to there investment and riding a storm, regardless of how long there under water for.
Ive never seen Warren Buffet commit to a share with a furious gamblers mentality. He reinvests dividends and follows trading trends. ....
Im aware its valued with potentials factored in, i was trying to ascertain the actual company position if it fails to discover oil. As it stands, and it is a fair assessment, there is a verbal agreement to allow the company to drill the two sites. Redeer is literally a 50/50 speculative prospect that has an equal amount in failure as in success and Heron, i grant is more of an appraisal well. To think this share will just continuously climb north every day is crackers. I have no doubt it will rocket on news from Heron discovering oil, but if your average is over 8p, im sure there will be opportunities to get in lower between now and two weeks. 56 Mill market cap with no oil discovered thus far and missing signatures seem punchy GLA
I also remember TRP off Namibia, had a market cap of £158 mill at the height for the first Western African discovery. I know it was different setup entirely, but that fact remains....it didnt happen and alot of people got burnt. Me included, i learnt my lesson.
And i wouldn't get fried as i would jest set a stop loss and just close my position. You sound bitter.......you need to TRADE a stock, its a strategy i dont know why your so insulted? Surely your intention is to make money.
I dont take it personally at all. Im here to make money and i have achieved that, currently not in. Im waiting for a new entry point. I also hope that Heron will hit, but i honestly this Red Deer will miss. Trade your own game.
I know everyone is well geared up here for anticipating booming outcome, but just to add thought, this company has had a previous 21 dusters.......I personally think Red deer results will come in first, will be a duster as its a speculative prospect on a 50/50 chance, in an area where no other oil player is drilling. I think think few days later Heron will hit oil and it will rocket the crushed share. There is an art to investing, entry out at profit, let movement occur re enter profit etc. To invest and remain invested hoping for all successes and discoveries is risky business, but a strategy in itself. Think the fact we have seen more sells than buys today by a close margin, gives support that others believe in profit taking also. Id be gutted to wake up to a 60% down as a duster was announced, and then see a bounce back to around 48% down. GLA
When a company just gives update after update of placings, cost cuttings, alternative finance arrangements and hopeful strategies you know its a stinker. I would actual vote to sell OPL226 license for whatever little worth it has and literally go boom or bust on an Arctic speculation closer to Canada. Nigeria have chosen there desired partner, being China. I said almost a year ago, we needed the other Nigeria presidential candidate to win their election and he lost. With that, COPL was destined to be doomed. The current president has no interest in giving COPL approval for anything. That is clear to see, i hope all LTH recover there hard earned investment here elsewhere. For me this company is as bad as TRP. GLA