Member Info for Romeike

Bids are welcome but I hope the board holds firm on price. There is no reason to be giving any consideration to low ball bids when a recovery hasn't even had a chance to begin. Regarding Mr Dossou-Aworet, I'm included to believe he is buying because he knows the assets well and knows the current price is bargain territory.

A decent finish today would finally put this in a tentative uptrend, which given what's happening with PoO is a glimmer of strength.

More than anything I would see it as lucky.

the single share trades are generally thought to be a side effect of algorithmic trading I think, although sometimes small value trades are used to "feel" for a drop and then a larger bid is placed at the lower price.

A miss this time.

So just in case you wondering where this authoritative anonymous opinion cited by the all-knowing, beacon of top quality financial reporting that is the Times - it appears to be from this very board as shown below, courtesy of our own contributor bransonbull. The reporter should be totally ashamed.

bransonbull
Pretty obvious lowball bid coming...Tue 07:46

IMOV DYOR. Don't take the denials of a chap buying 10% of the company just for old time's sake. He means serious business and is accumulating stock on the cheap. As am I...bransonbull

A trusted face at the top will help change sentiment to the positive. It might take many months but once sentiment returns the share will be valued more objectively.

Dude - you do realise that the Times copied and pasted that "quote" directly off this very bulletin board, typo an all.

What we know from their own statements is that the board are currently reviewing investment strategy. We've seen reports of the intent to sell down some or all of the Kenya stake. It seems reasonable to expect some kind of movement on Uganda as well. The strategy on Guyana may be influenced by ECO based on what is in the CPR on Jethro, but I would guess the spend decision there will be for the new CEO.

The Times article actually suggests the opposite....

Am I correct in thinking Karoon put COS on the Marina-1 drill at 11-25%? Can anyone confirm?

" In the case of success in Marina-1, there is potential for a de-risking of a list of additional prospects in the block totaling over a billion bbl of prospective resource on a gross basis."

With some luck this might just put in its first green five day run since 64p. Oil price dive overdone and you'd hope recovery would lift this too. Best news we could get right now is announcing a respected former oil major executive as CEO, especially if they come with Africa experience.

The rather precise nature of the potential Kenya sale makes me wonder if there is a potential buyer already known, but which requires a majority/operator position for their interest. I hope that that a buyer will be announced and the sale will be underway by June this year.

They certainly be inclined to extend to end of the year. And while the recent drop is bot great for OPEC+ who want at least $60 Brent, but actually need $80 Brent, it is a disaster for US shale who are loss making at this WTI price and have $40 billion of debt repayments this year alone, $200 billion due to end 2024.

The only news required to get this up substantially is a new CEO, the share is at current levels due to strong negative sentiment. Once sentiment comes back it will rise very quickly, and yes with good news flow on production forecasts I don't see why it cannot fill the gap to the 140p level.

He already stated quite clearly that he is NOT interested in a takeover of Tullow Oil. It is apparent that he wishes Tullow to remain an independent operator in Africa. Tullow have a strong reputation for recruiting and encouraging African talent, something that would be lost if Tullow was to be absorbed by a large major.

Drilling operations may complete end Feb, but I doubt they will have full results until sometime in March. Also the partners will need to agree the wording of any release.

He matters because he is a big player in Africa E&P and he is helping keep Tullow independent while it sorts itself out.

The virus's mortality rate is far too low to trigger PHEIC (global public health emergency). China appears to have things reasonably under control. When all is said and done far more people will likely have died from seasonal flu in China that will die from this coronavirus. Most economic damage should catch up in subsequent quarters.