299 replies to this topic

[andi222]

So did my research over the weekend and I do not understand why the share price has plunged 90% over the last 3 months. Yes oil, dollar etc had a negative impact and debt levels are high but if u look at latest financials its still a profitable company and for me there is great potential here for the long run. Rights issue might be a pain tho. But let's see.

[Spell Jammer]

Historic OPEC deal done. We wait to see how this impacts the share price does on Tuesday.

[Lionelza1]

Nothing official yet but market not happy it seems. There’s a follow-up meeting tomorrow with G20 energy ministers to discuss non-OPEC countries contribution to supply reduction:

Oil Falls Into the Red as Deal Surrounds a 23% Cut

Oil slid into the red with WTI initially taking a bigger hit than Brent after OPEC+ cut production, but apparently not enough for the market’s liking. The group is discussing a 23% cut in May and June. For the Russians and Saudis, that would bring their output to 8.5 million barrels a day should this deal go through. Investors clearly think that isn’t enough to make up for the demand destruction.
Something to keep in mind, though, as we see these numbers roll out is that while the underlying economy continues to deal with the virus threat, these cuts may be putting a floor on how far oil can drop. Avoiding crude in the teens may be more important now than restoring prices to where they had been.

Indeed, thank you for that info, just checked it out on CNN

scarey and uncertain times indeed

[Burnt as well]

Decent afyernoon run up.... Any news on that meeting?

Nothing official yet but market not happy it seems. There’s a follow-up meeting tomorrow with G20 energy ministers to discuss non-OPEC countries contribution to supply reduction:

Oil Falls Into the Red as Deal Surrounds a 23% Cut

Oil slid into the red with WTI initially taking a bigger hit than Brent after OPEC+ cut production, but apparently not enough for the market’s liking. The group is discussing a 23% cut in May and June. For the Russians and Saudis, that would bring their output to 8.5 million barrels a day should this deal go through. Investors clearly think that isn’t enough to make up for the demand destruction.
Something to keep in mind, though, as we see these numbers roll out is that while the underlying economy continues to deal with the virus threat, these cuts may be putting a floor on how far oil can drop. Avoiding crude in the teens may be more important now than restoring prices to where they had been.

[andi222]

Took my first bite today. Will read up over the weekend on Financials and then might top up next week.

Sent from my SM-G973F using Sharenet Sharechat mobile app

[Lionelza1]

Decent afyernoon run up.... Any news on that meeting?

[soutie]

You got a lot of followers there. That was a big rug that got pulled. 

 

Where's all the followers my stops about to get hit....

[soutie]

Cool Goodluck...im still bystander but the itch is getting ever so strong to jump on.... I'm waiting for R30 bucks again hahaha

 

"F" I hope that boat has really sailed & never to return....

[Lionelza1]

Hi Lionel I've just a small short position based on the outcome of the meeting being a negative/no result/concensus...

Cool Goodluck...im still bystander but the itch is getting ever so strong to jump on.... I'm waiting for R30 bucks again hahaha

[soutie]

Hi Lionel I've just a small  short position based on the outcome of the meeting being a negative/no result/concensus...

[Lionelza1]

All this volatility surrounding a meeting that may take place & the largest oil producer isn't in attendance...Yip crazy...

I'm back in but short now from R68+ change...

What price r u waiting on?

[Lionelza1]

All this volatility surrounding a meeting that may take place & the largest oil producer isn't in attendance...Yip crazy...

I'm back in but short now from R68+ change...

What price r u waiting in?

[Spell Jammer]

Guys that bought on the low just made a quick 30% return in the space of an hour. 

Edited by Spell Jammer, 08 April 2020 - 02:02 PM.

[Shi]

I was thinking (when the drop happened) "what did Trump say" 

[soutie]

Let's checkout that followers theory of yours Snippet.....  

[soutie]

All this volatility surrounding a meeting that may take place & the largest oil producer isn't in attendance...Yip crazy...

 

I'm back in but short now from R68+ change...

Edited by soutie, 08 April 2020 - 01:55 PM.

[Lionelza1]

Round 2 is comming

[Shi]

Or a huge missed buying opportunity apparently. This share is crazy lol.

 

So true hey. Buyers came to the party and it's at 6800 now.

[Spell Jammer]

Big klap, down to 5400.

Or a huge missed buying opportunity apparently. This share is crazy lol.

[soutie]

Ha Ha I very much doubt that.....      

 

I only wish I'd held on to the other half yesterday.....

Edited by soutie, 08 April 2020 - 01:16 PM.