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Some people seem to be falling into the "the market is always right" fallacy and starting to assume the price drop must mean bad news. On the contrary it means poor communications. I don't know if the news is good or bad, and neither does anyone else. As always:chill
The divi is solid so this drop means a very good rate of return to new buyers (fact not ramp).

What is really happening here is some combination of new holders getting the willies and market manipulators who are taking advantage of uncertainty to push the price down to get in at a low price before the next RNS.

Smarty! you know that we can research this share very well on the shallows. The deeps have always been a gamble and LTHs all know that.

I'm afraid this is the normal trading pattern for CASP. We have a period of hype and hope followed by delay and decline. The RNS eventually comes along and usually confuses the picture further. This time it may well be some kind of delay with 802 accompanied by an opaque explanation with important missing or conflicting elements.
This isn't a deramp, just a bit of realism from a LTH. However the overall picture is much more optimistic than for some time, the divi looks fairly solid, and the floor shouldn't be too much lower than this.

Was that a middle of the road joke DM? Good to see you are still chirpy today.

....and a very good way to end it DM. Tomorrow is another day.

In the period when news was scarce and operations scaled back, particularly during covid, then almost anything got reported in an RNS because almost anything was out of the ordinary. In a period when there is a dense schedule of proposed works, many of which could be considered run of the mill and not worthy of reporting (e.g. workovers of existing wells using a proven technology) then we will have to get used to waiting longer for operational updates unless they have greater significance. 802 does fall into the latter category, but will need reporting on only when the outcome is definitively resolved. Don't box yourselves in with a hedge of unnecessary anxiety.
Chill!

If you sell everything you have no hedge at all

Well of course I knew it was buxus sempervirens, DM, but I thought making the joke that way would be too subtle for a numpty like Goaty.
Oh dear, I seem to have unhedged my politeness there!

So you mean its a kind of small hedge, like a box hedge for instance? Or is that too literal for you?

I'm not sure that is technically a hedge Goaty. You would need to put the 50% into some offsetting investment as I understand it. I don't think cash would count.
A better example of hedging would be to say "Jup4it is a numpty unless perhaps I have misunderstood some aspect of his argument in which case I am the numpty."
Politeness is a kind of hedging.

Hi Rocketeer, I just do this board. If you want to ask me a question, do it here. If you want to ask me a question that you can't ask me here, I wouldn't answer it anyway.

Have you worked out what to do with your spare time in retirement yet Smarty?

It seems to me that the sp has dropped a little today because we had an RNS but no operational news. The quarterly dividend is just common sense. The boaty contract is the expected confirmation of old news. The only reason for the drop is therefore impatience. As I said yesterday: chill!

We used to be so patient on this board! The news will come when the news will come. It won't be that long one way or the other. There are so many potential bits of news that the odds are that some of them are going to be good with some possibility of them being excellent. Chill!

Rodney.

Looks like you'll be topslicing again today, McQueen

Probably still moving up because we still get 6% even at this price, and thats without the upcoming news, whatever that may be! Bad luck on the topslice McQueen. Not an easy call.

If the market doesn't like you, you just have to be patient. Sometimes very very patient! The gaderene swine sometimes charge over a cliff edge.

If enough chartists are trading then they will be right. They trade in self fulfilling prophecies. Good luck to them, and may they remain optimistic. As a fundamentals investor, I think we are poised for success, but of course there always remains some uncertainty...

CLT, Rocketeer now gets likes for his posts (or should I say post because its nearly always the same) because we admire him for his consistency and ambition. We used to either ignore him or get cross with him.

Rocketeer has remained the same while the world has changed around him. I think he has chosen 42p because 42 is the answer to life the universe and everything. This is a superior approach compared to some TA I have come across.

Quick message for Smarty. In Nerja now for a couple of months, but unfortunately the temperature in the UK seems to be almost as high.

Joe, I also forgot about the possibility of multilateral wells!