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While the derampers try to spread negativity the sp is slowly strengthening. All this apparent sells are not really sells and they know it. You would be really desperate to sell at a loss right now when YA has been removed from the equation. The derampers are obviously trying to get in cheap since thye know a multi-bagger when they see one. Looking good for a 5 bagger within a month imo.
If it does go below 0.2p it will be briefly to activated stops. Last time there was such a placing the sp doubled within a few weeks and then went on to hit 10p. Then new target will be 1-2p due to the shares in issue but still a 5 to 10 bagger.
It won't drop below placing price. No one currently holding will be making nay profit by selling at anything below 0.2p.
The current level is a lift off point for those who want ot take a long position. A target of 1p over the next 2-4 months imo.
Remember a valuation of 114m for the company is 1p which is easily doable if oil price rises $50 and HH output increases.
The holdings RNS on 5th May states Canaccord genuity bought 460m shares which is 5.4% of the total voting rights. Surprised the sp didn't really move much at the time. Thye must be very confident though to take such a stake.
https://oilprice.com/Energy/Crude-Oil/Oil-Slides-On-Russias-Plans-To-Raise-Production.html
"Reports that Russia plans to start easing oil production cuts after the end of June arrested the oil price rally, keeping WTI below $35 a barrel."
This is why POO is dropping. They were eager to announce cuts earlier but I guess they still want to pile on the pressure on US Shale.
Difficult to get a sell quote for this. A pretty sad state of affairs when liquidity is not there. Will have to move one way or the other and lack of buyers probbaly means down short term. Oil is stagnating while other sectors move up.