Quiet time31 May 2018 23:11
but the investment case remains the same, even without a potential CPR upgrade and parking Namibia to one side. This is a great risk Vs reward play. 3-4 shots in the hottest oil play in town, few clicks up dip from Exxons finds. The CPR data confirms contiguous sands, so also expect a further increase in COS.
Stocks can change direction and popularity in an instance, particularly oilies. Just no news / PR at the mo. Ive a good 6 fig holding and more than happy to sit and hold. Not particularly bothered with a few pennies move either way as I expect a lot further uplift in SP by year end given the fact we have been derisked by Exxons work
Obviously, timing an entry can be key, but with big moves expected on the upside, I would not worry about the current price drift.
Worst case African Oil would probably take us out around 40p (assuming upgraded CPR & Total farm in)