That’s the one. My worst ever stock! Not putting any more money in there. I last averaged down at 0.04p thinking it could not go lower and it dropped to 0.012! But it’s done 100% rise in the last few weeks.
There is a lot to be said for cutting losses! I did that when I first got prd. Only thing is that I have done it far too often and need to start selling at a profit. Managed it in NFX. Bought at 6p and derisked at 12p then sold the lot at 10p. Good choice looking back and I could always buy back lower than when I sold.
I have a few stocks where I am 50% down on a £1k investment. As you know it can be a long wait for a stock to bag to get back even, but if I got timing right and put £5k in then I would only need a 10% rise to get back even, take out the £5k and put it in elsewhere. Maybe easier said than done. Thoughts? This does not include Prd by the way.
Chancers, I had a shocker on Friday, bloe seem to have messed up a well that was flowing at over 1100 bopd and now is just over 300! Dropped 20%. Still 160% up in bloe though which helps with the nerves and happy to ride the storm.
What I don’t understand is why their is clean up fluid. I thought they had the well on and off production. So have they done well maintenance hence the need to clean it?
As for the sellers, these are mostly people who baught in higher? Selling at a loss? Whilst I am not best pleased I haven’t sold any as my low, 3.75p average helps. This so will get back to new highs, we just need to get on with drilling.