RE: Overhang16 Jun 2020 10:42
It's amazing how quickly the day traders on here forget what trading is when it suits. Yes, there will be sells. There will also be buys. This is trading. One mans profit at 0.4p is another mans entry point for the rise to 0.8p. And so in. Trading.
The massive summer of 2017 was fueled by a large foreign investor and positive sentiment - and a lot of trading.
Concentrate on what the fundamentals are, what is being invested in, how it is going to grow. If UKOG get to that 3500bopd on multiple wells at HH, BB, Areton et al (you know, the oil well per sq mile that the swampies are bleating about) what will the company be worth then? How much will it cost to get your share of that success now?
Yes, progress has been slower than expected. BB was a known disaster, COVID-19 and the oil price crash not expected, but most of that is now behind us and clear skies beckon for this share. Who knows where the WH Ireland placing shares will end up, but at least in isn't YA flipping them like burgers.
They always say that "Past performance is not a guide to future performance". In the case of UKOG that should be a welcome expression.