If I was an investor in LO I would be very angry at their lunatic selling. The fund manager appears to be clueless. Why they are still selling when they have found oil is beyond me. I fear they will end up like Woodford. Still at least I can buy at these bargain levels.
This will either be worth a fortune or bust. Evidence so far suggests it is a service the restaurants are resisting and do not want. Lack of advertising is a big issue. High risk gamble with risk v reward open to those wanting to invest. Good luck.
Rose Petroleum (ROSE) announced a placing to raise £1.25 million at 1.1p. The directors are buying a 10% interest in a 317 acre lease from themselves, but it actually equates to just a 2.217% working interest in the spaced drilling unit. It's a shale project, an area in which US companies are trying to divest, yet they’re paying over $9,500 an acre for it. It's also worth remembering that US projects which show up in London these days usually are doing so because they can't raise funds in North America. I suspect that may well be the situation here.
Mike with the spread I imagine we are all underwater. Just a month ago I was buying at 1.65p. I bought in here originally at over 3p but sold out months ago on a small loss. It becomes a problem when you need to raise cash and have to bail out.
After a bumper 8 months my entire AIM portfolio is down 20% since September. I am preparing for a bigger hit as December has historically been bad for my AIM stocks. However news could land here soon and fortunes change. Good luck. 2020 should be a different story.
No joke just happening all over the place. For example MKA is trading just above cash and has a massive rare earth resource with a potential JV to production. Again the trouble is the market is not expecting news for months so SP is abesmal. Imo Likely to bag several times next year.
So I am holding and may add more here because I have a good Idea how the market works