George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Push, in contrast I just want Angus to stfu and focus 100% on SFB. I want nothing more than gas and debt repayment. Let us turn this into a cash cow. Let us build the credibility and the SP. I have no interest in vanity projects that destroy shareholder value.
Ok Plaice so “ most” is actually the market as opposed to those here. So what are our assets? Where is the published report. Why no RBL? Why no JV? Even if we have the oil we need to extract it commercially, but can we? The temperature is cold which exacerbates the waxing issues. We are where we are for a reason. I hold COPL as do my children and my wife. All to play for. The coming months are critical.
MD248, Your post is somewhat laughable. The SP keeps on falling - over 90% since I 1st invested with new lows almost weekly. I don’t like either rampers or shorters. We do need some balance. The field has massive potential but the finances are a joke (reminds me of Angus). In time I expect the field , when combined with a JV, will reward us all but for now tin hats are the order of the day.
Pilot and Easy, I so hope you are right but the bond holders sell every week. Why do you think it will be different this week? They forward sell and convert at the lowest 5 day average price. Money for old rope . They don’t care about the sp.
Leew, in the short term it is in investable because the bond holders are converting and selling each week. They don’t care about the impact on the sp. So with few buyers we get torrid dilution and an ever sinking Sp. Why buy today if in a month it will be lower as a result of their actions? Longer term though shares picked up today should look good if mcap grows to say £200m.
Hillbilly, I only ever invest a maximum 2% of my portfolio in a single stock and always drip in so I can afford to be both honest and stoical. I have a 3.6 B/E on Matad by continually selling 25% on spikes and buying back lower. Tullow B/E 27 and Alba 0.08 all by doing the same. The problem here is that there have been few decent spikes to unwind the 2% leaving me B/E at 20p. Very frustrating and I am sure that others have been similarly caught out by the incessant nature and depth of the falls here.
The killer for the sp is all these conversions at ultra low prices so the dilution is much higher than anticipated. If we have 1bn plus shares the sp will be 1/3rd of what it would have been with 333,333,3333 shares for the same mcap. Obvious but true. The £1 party would now be the 33p party. Still lots to play for here …
Just bought another 1m at 1p. Whatever our financial issues the solution is gas production. We should now have plenty of it. On a 6-12 month timescale IMHO this offers an excellent risk/reward opportunity. GLA
Desree , I think that you and I are going to have to differ. I do not have a crystal ball and thus do not know the day to day SP. I am looking at the position in 6-12 months. I think that with the new infrastructure in place the flow should be at a good level. I also think that the POO will be higher in the autumn/winter. No guarantees , but in which event trades at these levels have a strong chance of making money. I am buying back the stock that I sold in the high 2's. I was going to buy at 1.4 but got greedy and waited. In this case I have been fortunate but I could easily have missed the opportunity to buy.
Bond holders crashing the price. This has nothing to do with the fundamentals just an avalanche of sellers and too few PI's as buyers. Thank god for my self imposed rule not to hold more than 2% of my portfolio in a single stock. There are so many times I bought otherwise have bought to average down with today being the best time ever (the lowest). I wait next weeks new lows as bond holders sell week by week.
My 8.36 post was removed. Am I correct that conversion is at the lowest average price for the previous 5 days? If so, given that you can sell today and deliver stock in the future (t plus 15 is still available), is it possible that stock converted today was sold last week or even the week before? In which event the more bond holders sell to crash the price when they convert the greater their profit . Please tell me this is wrong.
Whilst the bonds keep converting and there is no news this remains uninvestable. We keep hitting new lows. If anyone fancies a punt and can hold for 2 years it should be an excellent gamble. I have bottom drawered my shares and cross my fingers for 3000/5000 BOPD and Exxon JV. C'mon Art.
1st time I have done this but at this price, side track successful and oil futures stable this is a strong buy. Risk /reward ratio here is now excellent. £1 party = lol! However, 4-5 p party = good chance with 1-2 year time horizon.
we are now in the 2's. something is very wrong here. why are other oil and gas companies not buying our shares? why are people close to the jv not buying (there are always leaks). is it financial or is it the resource or both. **** show.