Believe it or not I bought these at 4.87p and still have them, topped up considerably along the way and happy to take the 400pound a month divi which all gets reinvested. I low production loss of these relatively cheap wells to bring online make this a very attractive stock to hold, imo those selling out at these prices are made and I3e are super cash rich. If this goes below 20p I will take yet another considerable holding.
of a stock doing 30-50% on spud news is long gone imo, look at clon, eog etc I don't believe this will be any different (yes, I do hold a significant amount here) I'm afraid. People are no longer willing to take the risk.
Just impatient folk selling out, those who hold will be rewarded here I believe. The days of getting rich overnight are long gone, sometimes you need to hold longer than a week!
People have taken their eye off the ball which supplies all the liquidity to the market, the US 10 year treasury yield, this is now starting to spike which indicates a sell off in the bond market. It won't matter what you hold when this eventually implodes as the whole financial system will crash.
RE: They will try every trick in the book31 Aug 2022 17:34
1p is pretty much guaranteed, it's is the selling once it gets there which is the hard bit as we all think it will go further. That said, I did take a few more and will probably continue to avg down.