Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Fabourite saying of pathological gamblers.....
Not a joke since Tullow has locked in a much lower price of oil for moat of ita oil and hemce is not benefiting from any rises. As a mattter of fact in some causes, depending on the specifics of their hedging strategy, the hedgeing costs /losses go up as oil goes up.
SS will be removed when UKOG finally folds, which is not far away now....
Price of oil is irrelevant to a company that is pumping a handful of barrels a day. Oil could be $200pb but it wouldn't make any difference to UKOG. Still remember when SS was promising you'd all be " retiring to the Bahamas" when oil hits $50?
Rumours of the Ghana fields degrading /depleting at much faster rates then anticipated have been circulating for a while now and everything points to the conclusion this is true. Just look at the disastrous update in Nov/Dec 2019 which caused the market cap of the company to drop circa 70 %. The guidance then was downgraded to 75k for the following 3 years which came as a shock to many and many argued it is the the board being too conservative and TLW will be back producing 85k+ in no time. 2 years later and the company is predicting as low as 56k production. It is time to acknowledge the problems with the performance of the Ghana fields have been grossly underestimated.
In order to benefit from rising oil prices the company needs to produce oil.... Something ukog has been struggling to achieve for the past few years...... Price of oil is irrelevant to ukog... Remember when SS was promising you lot " good cash flow at $40 pb and retirement in the Bahamas with oil at $50"?
Are you surprised ... One of the top bull****ters on these boards... Fake entries and exits and always on the right side of the trade, of course after seeing which way the market goes of course
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The financial markets realising the Covid **** storm is not over yet.... That's what's changed
I am not worried at all since I'm not invested in ENQ despite all your efforts on other boards over the last few weeks to draw many new investors into ENQ as you could based on half truths and over optimistic assumptions... Well today reality struck and hopefully this will make you a bit more humble..... "The market is wrong and I am right" almost never works... Especially when it comes to small cap oil where even a small production issue can derail a company...
Luckily you are here ammu... Still predicting 40p by end of December like you were just 4 weeks ago?
Ammu you have no credibility here, just weeks ago you were all over the boards of other oiles telling people how good of a company ENQ is, how undervalued it is and how stupid the market is to not see it.... Well turns out the market was right and now you like a fool... Stop pretending like you predicted anything.... You clearly don't have a clue.....
Dbno is the best anti indicator on these boards, I don't believe in magical "technical" indicators but if I was forced to use one it would be him. Do the opposite of what he says and you will make money in this market :)
Most still surprised at HBR's with their childish posts about "more buys than sells" or "manipulation". They simply can't accept the simple fact that PMO was used as a vehicle for private equity to sell their stake in oil they see as a bad investment going forward. There is a massive overhang of shares with another c. 30 % being unlocked in March next year so always plenty of sellers available. If you can't accept that this side movement will continue for another few months, realise your loss and move on. Your constant frustration adds no value here....
Currently the larger the oil price the larger the hedging loses for Tullow....
If that's the case another 10 billion share dilution at 0.08p to fund this.... wooop woooop
The bottom for this share will be 0.00 p. SS will be eventually throw in the towel and blame outside factors for the demise of the company e.g. regulators, bad councils etc. He will never admit that Ukog was a scam from the beginning desisgned to fool nationalistic boomers to part with their money based on false promises of hidden gushers of oil near Gatwick......
I love how most of the posters on this particular board over the last month have gone from "in for a quit trade" to "I'm a long term holder" :P Hopefully a lesson to many not to try to catch a falling knife... It almost never works...
Another day another failed prediction by dbno.....
This situation will continue for more than a year, remember 330 million shares become unlocked in March 2022 to be potentially be dumped onto the market...