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Well, yeah, indexes trading down due to trade war fears so expecting this to go down today unless more positive news arrives.
Don't forget consolidation 100:1 so the 200 million shares consolidate to 2 million.
So kind of self-defeating to orchestrate a lower sp to purchase more stock only then to consolidate it 100:1.
A lot of the problems with EDL is location- Africa. Not easy to raise funding other than to dilute shareholdings.
55% spread - joke....
Get digging....
SimplyWall.st article on EDL published 3rd May
https://finance.yahoo.com/news/did-manage-avoid-edenville-energys-132409311.html
Does not make good reading
Brexit is as dead as a Dodo. No country in history has ever given up economic market share without a fight and Brexit has always been capitulation by a mere puff of hot air. YOU can go an believe in unicorns if you like but the so called deep state will pull the rug under your feet eventually....
So, if that's your view also and with these bullish Q1 trading results the SP is a bargain.
The audit also suggests less than that a discovery of 200m barrels or more would be sufficient for a development to be economic.
Given the above the last RNS by Simon Potter CEO stated:
"... Whilst we continue to be entirely focussed on securing the funding needed to drill an initial exploration well, we now have the working capital, Government support, clear and enacted legislation and an adviser in place to achieve this. Further, the surrounding industry circumstances are more favourable, with a sustained recovery in the global oil price and renewed industry interest in frontier exploration that will underpin moving this exciting project forward. ..."
Let's highlight the following: "Government (The Commonwealth of The Bahamas) support, clear and enacted legislation"
· External technical audit conducted by Moyes & Co ("Moyes") indicates aggregate mean volumetrics assessed for the key structures in BPC's southern licences is a STOIIP of 8.3 billion barrels, with an upside of up to 28 billion barrels STOIIP. Moyes independently calculated the probability of success ("PoS") factors for each of the major reservoirs assessed, the majority of which were calculated in the 25 - 35% range.
· Applying a recovery factor in the range of 20% - 40% to the Moyes STOIIP volumetrics would result in an unrisked Estimated Ultimate Recoverable ("EUR") in the range of 1.6 billion to 3.3 billion barrels (mean), and up to 11 billion barrels (upside).
So, what's change to produce all the negativity.... the audit still stands....
Having traded this stock the initial funds I put in are now comfortably taken out. Any position I put in here is now essentially free shares. If I take on a position now and it goes down to zero I wouldn't give a monkeys. The money I would effectively put in would be a small fraction of the money those who lost put in. YOUR money, if you really think about it.... Of course, I wouldn't want it to go to zero. My aim is to multi bag it. However, in the worse case scenario I've already got my money back. It's your money I'm playing with. Thanks. Keep selling the lows and buying the highs it suits me just fine. :)
So, stop moaning and start trading if you want to win it back.
So far this stock is showing strong resistance on 10s & 11s. It showing strong support on the 5s to 6s.
Therefore, you can see that it's capped in the upper end possibly due to strong sellers... draw your own conclusions whose ding that. Equally, on the lower end buyers are moving in.
Fact, is EDL is currently no longer in distress. It has working funds and a production resource. OK so the Directors are filling their boots but why should you care about that so long as they get on with the work and start to deliver shareholder value....
All it takes is a positive Tanesco RNS and the company will need a re-rate.
Why should you care what Lind does to the share price? If Lind adds volatility then that's good to trade with. Buy the lows. Sell the highs. This stock isn't for long term investing. A buy and hold strategy will get you more than decimated. It will get you tri-cimated.
Had those who moan traded this stock they would be up and in comfortable winnings.
I'm OK for holding out until consolidation. If it revisits the downside again might be tempted to go in. I'm in anywhere below 0.05. Perhaps, our American cousins will smash it down and fill their boots on the lows but the indexes are trading up today. As it's POETS day think I will just do that...
Cheers all & good luck.
Had 0.05 as entry but seeing how it traded pulled the order and revised the entry. I've got patience even it it climbs it's not going anywhere in a hurry. Stockopedia classifies EDL as a sucker stock. You'd be amazed how many sucker stocks make up AIM. Seen posters on here decry EDL and and a quick check on their LSE chat profile came up with interesting AIMs most of which are classified as sucker stocks in Stockopedia. Therefore, makes you chuckle really. You can trade the buggers but when you hear some raving on about in it for the long term just comes across hypocritical.
@larrygrayson,
Did you enter a limit order at that price?
@d200,
The spread keeps widening and tightening... and there is a lot more placings to liquidate at a good margin even at a partial hedge. Anyway, I've been talking to much. This I will shut up. EDL can be very addictive. The volatility is great for such a small stock.
Candlesticks predicted the down move this morning on the daily.
To clarify this was the lows prior to the recent placings...
Well, it's all tangible as long as you can find a buyer. lol When it was on the lows it was discounted to the NAV. It's just hard to work out what precisely it is to get in at a good margin of safety.
There was good selling going on even when this was at around the 5s to me it seems we have some support in the 5s. However, given that good selling took place then this now looks to be primed to go below the 5s at some point. All these shares are issued on the 2s. Anyone know or have an estimates on the NAV here?
Naturally, you'd do the same... it's business...