TBF Rookie it might be the ties the BOD have with Washington that just bleed this share dry , imagine how much the traders have made out of this company !
As for myself i bought in here at 390p thinking the extra 35% wft was priced in considering it had fell from the 550p highs , especially as i had read countless articles about how oil would go to $130bbl due to lack of supply not to mention gas ! , oh how those so called reputable news outlets got me ! but iv learned and still trying to understand this game. I still believe in this company and recon it will have a good future and the way the SP rips higher when theres good news leaves me very confident !
Just remember whats going on while we sit here , drilling in Indonesia , Norway and Mexico ;-) black gold comes to mind ..... the smell of gas is smelling sweet too ;-)
Now i get why its better to invest in companies with large market caps , here its just being traded for the fun of it , guess pump and then dump sums this place up at times. Just got to sit tight and ride it out for the good times ! and not do a Rookie and get caught up with emotions ;-)
Just a little off topic , what does everyone use for technical analyses for viewing the trading here ? iv used tradingview (level1) and it doesnt seem to give an awful lot of info / i.e buys vs sells etc ? also the i find viewing the charts a pain.
I thought it might of been us but thinking about it we have zama , Kan and the Andoman fields to move on with so I'd be surprised to see us move in for another field that needs developing.
And less shares in issue too ! The only risk here now is the price of brent and gas falling off a cliff , but that is unlikely due to the uncertainties around the world and lack of oil / gas investments over the years. Plus opec playing hard ball !
RBL increased to $1.3billion which is great. Not exactly an exciting update however $1billion (!!!!) fcf unchanged and producing guidance unchanged, and hedges falling away from now whilst discoveries are ongoing globally and increased potential of M&A with discussions in progress. The SP should be stable from now.
That's my thinking too , it ties together rather well. Usually iv seen with shares where there's any good news the company always lies low to develop no private investor interest. Tuafan at RR did his best to throw everyone off the scent and iv also seen it with city pub group where out of nowhere a take over deal was announced.