Great news. The team are now clearly showing that very commercially viable volumes of oil can be extracted from these fields. If it wasn't for sanctions all the oil majors would be banging on RPOs door for a slice of the action.
..but this theatrical delay with the RNS is all I can think about these days. Will I be on cloud 9 this w/e or familiarly depressed. Sadly I half expect we're being buttered up for another kick in the nuts. Luckerly I'm an obstinate thick skinned old sod so even if the good flow rates are spoilt by some bad funding news I won't be changing my long term opinion of RPOs potential. Fingers crossed and good luck all.
Which means:
A) someone knows something we don't
B) someone is taking a wild bet
C) the trades are just MMS playing tennis between themselves
Either way, watching this share has and continues to be very educational. I for one won't be going long on any AIM share anytime soon
Oil being low isn't helping. IMO its overshot its correction. Demand will pick up and supply reduce now the price has come down and we should stabalise around $100, though probably not until after Christmas.
IMO the share is being valued based on the accounts shareholder equity value. No account is taken of the massive reserves. Good flow will translate into more cash which will translate into a higher share price. The big unknown in all of this is that anyone wanting to buy into this longer term multi bagger will cause the share to jump due to the fact that all holders value this share far more than its current valuation. QED good flow rates could have very little effect, they could have a massive effect either immediately or after a pensive delay. Its impossible to tell.
25-Jul-14 Canaccord Genuity Hold 660.00 640.00 Reiteration
11-Aug-14 Canaccord Genuity Hold 640.00 640.00 Reiteration
24-Sep-14 Canaccord Genuity Sell 640.00 530.00 Downgrade
03-Oct-14 Canaccord Genuity Sell 530.00 530.00 Reiteration
Why do so many brokers only appear to be able to tell people to sell AFTER a share price has taken a major knock.
do hope they don't keep us hanging till the end of the month. That said, if it allows them to fine tune the well for optimum flow then I'm happy to wait.
An example and the reason behind the biggest hidden cost of the city, namely it acts as a brain drain on every other sector. Anyone with a first in Engineering knows that over their lifetime the city will pay them at least a factor of ten more than they can earn in engineering.