Member Info for RogueRiver

We are almost back to where we were when oil futures were -$20. I’m now down 50% since PL pulled his latest ‘master stroke’.

Thus far, Mr Levine’s ‘surprises’ have all turned out to be booby traps. That could change, but I’m not holding my breath.

Had PL not thrown a dilution hand grenade at the sp a couple of weeks ago, we would probably have been well on the way to 3p by now. It’s bad enough when external factors throw a spanner in the works, but when it’s your own CEO...

I think it will tank tomorrow. Dilution is never good news. Hope I’m wrong. In the long-term the current sp is still very attractive.

NM

I don’t have a problem with Trafigura. What irks me is the price of the placing (1.85) and the dilution.

I’d love to be upbeat about this, but I can find nothing positive in a self-inflicted 25% overnight drop in the sp.

Funnily enough, we were beginning to see expeditious and substantial growth before PL lobbed a dilutive hand grenade into the mix last week.

It important not to get too carried away here. During the BA strike period, the IAG sp was kicking around the early 400s. That was with an excellent divi and a projected hit to earnings of a circa £150M. Given the far greater damage from the lockdown, you would have to be very optimistic to think the sp will get near 400p, until the airlines return to previous operating levels and the divi returns.

(I bought at 218p btw.)

Doubtless a rhetorical question, but I’ll answer anyway. Of course there will not be a dividend this year, as reflected in the current sp.

Thanks for your responses. I’ll be very happy to be proved wrong.

Presumably this means a 25% dive in the sp on opening tomorrow.

Anticipation...
or inside knowledge

Respectable gain today. Perhaps news that the Argentinian debt default talks are approaching a resolution have helped the sp.

I can see it back in the 5 - 10p range in 5 years time. At this price, what’s not to like, (even with the Argentine X factor)?

I bought at 1.4. Hopefully I will make up the loss from buying at 7.8 and selling out at 6.4 last year!

Yeah, lots of talk about the impending decree, but still no sign of it. How long does it take to sign off a document?

I certainly think (and have said) that I believe it is at or near its floor. It may be sitting there for quite a while though. If you are gullible enough to believe some of the more ridiculous hype on here, then I’m afraid you are asking to be disappointed. This is probably a share you should buy now, if you are happy to wait a few years. The company is not in any jeopardy, but it is probably going to be a slow plod to any significant gains.

Schroders have been selling regularly, but the SP appears to have found its floor. Given that the worst news in oil production history is already factored in, it’s hard to see what could send the SP much lower. At these prices, ‘wait and see’ could be tantamount to missing the boat.

Notwithstanding the obvious hype from some here, the SP does appear to be edging up. Given the historic lows, it is probably a good time to buy.

PL has been treated a bit unfairly by the market. Like everyone in this sector, PPC has suffered badly from oil oversupply, compounded by political turbulence in Argentina. At this price, there is definitely money to be made in the long term. It’s just a question of patience.

While PPC is not currently on his bucket list, Malcy seems to think it is safe with PL. I bought some today at 1.4pas a punt (my buy is showing as a sell, so, as ever, treat the buy/sell data on here with caution).