Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
Some really big and persistent seller here. Hard to fathom why, if you listen to the Uber bulls in here - apparently riches are nailed on.
On the weekly view, this is on the verge of looking like a proper bear market for HUR. Hard to see what will change that without any activity at the well.
Does that mean all your earlier chat about MACD etc was nonsense?
you wouldn't want to be in here with your own actual money for the actual drill and results would you?
you'd have to be brave or stupid or more likely just stupid, in my humble opinion.
See my theory is this - and its been done only a few thousand times before. Big investment vehicle buys in at a low ish price, waits for the pre-drill pump (60p), then smashes it with selling all the way down to whatever (30 p or less) and then has a free ride for the drill results. Easy peasy.
I see I continue to be correct. The shorters are going to smash this down into the 30's.
I don't care if you have a problem with it or not.
However, since you ask, I think nearly a billion quid market cap for a company with no revenue is ludicrous. I've seen this plenty of times across other fledgling oil companies. Dreams of gazillions of barrels, only to turn sour when production gets underway and the reality of technical problems and further cash raises kicks in. I've seen companies hit 2-3 bn on hot air and excitement - then the whole thing calls apart like a house of cards. Those same companies are worth as little as 100m today, and are producing 15,000 barrels a day.
My figure of 300m comes from cash in bank (deteriorating daily) and current asset investments with risk factor weighed in. I've valuing the assets at 0, because until it gets into production, they are just a promise, and a risk. Don't get suckered into the hype until promises are met.
Company still has a market cap of 800m. That's far too much for a company with no revenue in my opinion. I think around 300m more appropriate.
You say it's not a one trick pony, then proceed to list all of HURs fields in the same region? I give up.
Anyway, other than keeping an eye on fundamentals, it's also worth keeping an eye on the index as a whole, such as the FTSE. In my opinion it's at a bit of a crossroads at the moment.
I try not to. She's an insufferable idiot.
I think a salient point, which is worth noting, is that HUR is value at just under a billion pounds with no income coming in at present. It's also not guaranteed that any income will arrive in Q1 however nailed on people in this board think that is. Other companies have mcaps of half HUR and have been producing with hundreds of millions of barrels of 2p for years. They may have geo-political risk, but then it's also risky being a one trick pony in the middle of the North sea. I could easily see this company lose considerably more value in a low sentiment market - why not?
Help my nethers are sore!
Bell - I told them it was for an extension. I muttered the word "cock" before, for my own amusement which luckily she didn't here. However, I'm not laughing now - the share price seems to be in free fall. I may consider doubling up using funds by selling my car
Dreich
I have just done some fundamental analysis and feel much better. The company is worth over 1bn market cap and has no earnings revenue. I see absolutely no conflict here so will be investing more as soon as a can get my hands on more funds.
Do you think he knows something Gary?
Thanks for your financial advice I your post at 11:48. So you are sure this is a bad time to sell and this is the bottom of the dip? Sorry, I'm aware it is lower already since you posted that but this is ok - do you think it will go lower than now?
Like a fool, I remortgaged the house and put it all in here at just over 60p. I am now I a state of panic as the price is slipping can anyone offer me any comforting words as a salve to my chapped arse cheeks following another rogering today? Does anyone this message there is something wrong with the well? Is it possible that some bad news could be cumming?
It's currently 49.50 on the bid. This is a critical level, as it's just above 49, and slightly below 50. If we break above 50, then I see no reason why it couldn't hit 51p.
Pipedragger - I have spent many long winter evenings with many crews all round the world. My arse is in ribbons as a result.....
Imo