Member Info for Scribbler

Malcy has his uses, but put it this way, he's not someone to go for a bear case. And the bear case here is clear. We appear to have oil, but it's of a poor quality, and Gil hid the fact it was sulphuric sludge from PIs, and even worse, ramped the find to high heaven. Now, there's always the chance better oil will be found at Carapa, and that a suitor will be found for this sulphuric sludge. But it's a slim chance, and in the meantime this has further to fall. I've been here since 17p and took a big hit in profits on this - and CGX - but there's no law that the money has to be made back on the same share. We all have our wins in this game and we all have our losses.

Maybe. But I think capital protection is the name of the game now, at all costs, as any investment can dwindle to zero. One can always jump in again once the dust has settled. It's always tempting to hang on and claw as much back as possible but this has the feeling to me of a dead cat bounce. Old hands sell in panic, new hands come in sniffing a bargain, but once the new guys are holding the bag the MMs will drop the price again. Maybe we'll get a cheap buy out but other than that there are no immediate term catalysts to create excitement in this share of the kind we saw earlier this year. Bottom line is it's not the best oil, and Eco and partners knew it wasn't the best oil, but as usual PIs were the last to know. That's reason enough to be wary.

Had such faith in this they didn't have a stop loss in place? Woke up to a 10k haircut. Only saving grace is that I was on a free carry, but a disheartening setback nonetheless. In the last three years sell offs on all kinds of shares have been increasingly brutal. So many stars have come crashing down to earth, along with the dreams of ordinary hardworking PIs who risk their capital. And once the market's trust is gone, it's largely gone for good. I suspect after a dead cat bounce there will be attrition down to the twenties or thirties, and that money will be made between there and about 60p. Expensive lesson learned even for a seasoned investor. Always have a stop loss in place and knowing when to take profits or walk away is just as important as picking the right shares, Because the right share can become the wrong share in the blink of an eye. GLA lads. 

Hope it improves from here. Couldn’t buy at 10p for the last week on HL. Got my first bite at 12p today but I’ll take it. Still huge potential in the market cap.

This share is quite efficient in that it tends to consolidate at double the previous consolidation point. We were 18p for a good while, then I remember months at 37. Most recently we hovered in the seventies. We're now at double that. We'll drift down a bit from here over the coming months, I reckon, but if the past is any guide we'll see £3 in 2020.

You simply cannot predict how the market will respond these days, let alone on AIM. There was zero excitement in the SP here before Jethro, then a doubling to 1.50, then a pullback to 1.10, then a run-up to the £1.70s, and then a mere couple of pence afforded to Joe today, as if success was a given. Zero read-across for CGX, who hold the neighbouring Demerara licence into the bargain. It just shows that while it is very tempting not to sell a share, no-one who derisks or takes profits can be blamed because this market can and will blindside you. TBH though, this isn't a bad situation if you are a long-term holder with some cash on the sidelines. In fact the dream scenario for me is that we see out our drilling programme to completion, with opportunities to add when the SP is stagnant or pulls back, and then get bought out, either our Guyanese stake or entirely, by someone else who will take the oil to production.

I've been in since 17.5p - traded up throughout though so not a true tenbag, but a significant enough gain that I just had to take some off the table after Jethro. A very difficult decision I'm still wrestling with, but it's best not to get too complacent in this game. Although in terms of SP performance, competent BoD, and sheer potential there is no other share in my portfolio that has ever comes close. Well, Burford Capital once did but the less said about that the better. (Got out in one piece there, thankfully, hence my caution about the dangers of complacency)

Hope so mate - remember the last rise to £1 and then how profits evaporated? And then the fact we got no rise after spud? Crazy to be downbeat on a day like this but AIM is a rollercoaster!

Brightspot? He predicted good news Monday and the price settling around £1 as the rise was sold into. Part of me wishes I had derisked when I had a quote of £1.36.75 this morning and then bought back in, but I was holding out for more then and I still am.

I don't mean to be unhelpful littlegiddings but each of us has to make their own mind up. It's not my place to rehearse the case against the company, but it is my place to decide whether I, as an investor, think the company's rebuttal covered all bases, and whether any of MW's claims,whatever their agenda might be, hold water. My own belief is that this share price, after a swift and brutal sell-off, is the result of work is being done to shore up the share price by vested interests and day trading. Which is fine if you can profit from it, but doesn't mean more doesn't need to done to restore confidence or that exits won't be made now the SP is higher.

It might but it will retrace. This share will not go up in a straight line because it never has. It is highly volatile and it wouldn't surprise if profit-taking or another MW salvo gives believers a chance to pick up shares around the £6 or £7 mark once the fun and games are over. I'm not a day trader, but a former LTH who held between £4 and £16, and intended for it to be a lifetime hold. I only sold out because I believed Woodford would be forced to liquidate holdings and I had a big capital gain to protect. That Woodford cloud has not lifted, and while Muddy Waters clearly overegged the pudding, Burford still have questions to answer. Respect to all those who made money over the last week trading between the £4 mark and here - I would've joined you at £5.60 but feared losing more than I hoped to gain. When the dust settles I may pick up more for the longer term. But I'm waiting for action on governance and accounting issues, not buybacks, and I'm still concerned about Woodford. Sad for all genuine holders - I had a lot tied up here and could easily have been among you.

Of growth at a reasonable price. In fact this is a nailed on growth stock posing as a value stock. I think we will see £12.50 in short order as there is so much profit to be taken as well as instis facing redemptions in a panicked environment. We are already in bear market territory, I'd imagine most portfolios have lost about 20pc, except for those who've been cash heavy throughout the year, as there is very little safe haven out there. I'm expecting a false recovery in 2019 before a slump which could drive Burford even lower. But again, not worried about this particular stock, even though this is my biggest holding by far. In years to come this will be seen as a buying opp for the ages.

Stock specific issues aside - like Woodford selling down - shares everywhere are in reversal mode. Practically the only ones holding water in my portfolio are property/strategic land and companies that are very tightly held. The big question for Burford holders is where the bottom is and when to start topping up. We’ve plunged past placing price and it wouldn’t surprise me if we saw £12.50 and £10, possibly even lower if we go into full-blown bear market mode, and while I can imagine a couple of rallies on the horizon, I think this bull market is exhausted. That said - when this price bottoms it is a fantastic, long-term opportunity. Barring regulatory risk, which is a concern but is never going to apply to too all of the business, this firm has unparalleled potential.

Just read the CMD slides - very reassuring for long-term holders, and delivered with customary thoroughness. Would've liked a bit more detail on why they're so confident about the lack of regulatory risk, because that's the only issue around this firm that gives me any whiff of concern, but nonetheless very pleased and will certainly be buying more.

Any news from the webcast Nigwit? Optimistic tone?

Topped up at £15.36 but Inclined to dump some underperformers and drip -feed the money here if we have a prolonged sp decline to the £10 mark. One of the few companies I have confidence in these days.

My biggest investing regret not backing up the truck when we were at £7.50 a couple of years ago. Since then this has bagged, in fact it is my most reliable share and I've made up losses over the years elsewhere by cutting and investing here. Great opportunity to pick up growth at a reasonable price here, and if it dips yet further I will keep buying. Been here since £4 and there are few shares in my portfolio that can match it for quality of management and prospects.

Been here since early doors and welcome this, makes far more sense than sticking with the black stuff as they have missed the boat with that really. I was hoping they’d find a firm with high growth prospects, like Sosandar, to RTO, but this is promising. CBD oil is an OTC growth market, although I’m interested to see what prospects they see for growing the market in CBD - as I can’t see Boots flogging it, H&B already sell it, and some early places you can get it - like Etsy, stopped flogging it. Supermarkets, pharmacies perhaps? Nonetheless I am optimistic, not least because I use Cibdol and Jacob Hooy myself and it is effective for aches, pains and stress relief. Not recreational like THC derived product but neither is it medicinal like GW Pharma’s products for epilepsy, neurological condtions etc. CBD seems to sell well at Holland and Barrett and from Swiss and Dutch growers selling the flower and oil online and through head shops. My belief is that SOP could offer a good play on the cannabis space at a time when the Canadian regulatory situation is piquing interest, but is expensive to invest in. I was actually looking at investing in Aphria yesterday as their PE is quite reasonable, but will watch what unfolds here now.

Why are all these contract wins not reflected in the SP? After a strong run this share has spent 2018 tracking sideways and down.

Been waiting for an entry since 29p and fear I will never get it, but fearful of paying 'any price' out of FOMO. Traders and MMs are playing with this stock and its movements are disconnected from news. That worries me as it could just as easily plummet on no news. Entry price is all. I made a decent return on Boohoo because I got in at 49p, but how many got spiked at 2.50p and above? Boo plummeted after on news - that wasn't bad, just an inch short of excellent - and ever since it has tracked sideways or down. This is a promising business and Paul Scott is a voice to be respected, but this has risen too far, too fast for my liking and I suspect a bit of patience and a bit more evidence will pay dividends, entry point wise.