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#121 andi222

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Posted 15 April 2020 - 04:19 PM

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.


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#122 Spell Jammer

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Posted 12 April 2020 - 10:35 PM

Historic OPEC deal done. We wait to see how this impacts the share price does on Tuesday.
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#123 Lionelza1

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Posted 09 April 2020 - 09:56 PM

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
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#124 Burnt as well

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Posted 09 April 2020 - 08:13 PM

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.
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#125 andi222

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Posted 09 April 2020 - 05:27 PM

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

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#126 Lionelza1

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Posted 09 April 2020 - 05:11 PM

Decent afyernoon run up.... Any news on that meeting?
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#127 soutie

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Posted 08 April 2020 - 03:06 PM

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.... :(


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#128 soutie

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Posted 08 April 2020 - 02:33 PM

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....


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#129 Lionelza1

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Posted 08 April 2020 - 02:27 PM

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
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#130 soutie

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Posted 08 April 2020 - 02:18 PM

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


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#131 Lionelza1

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Posted 08 April 2020 - 02:10 PM

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?
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#132 Lionelza1

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Posted 08 April 2020 - 02:10 PM

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?
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#133 Spell Jammer

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Posted 08 April 2020 - 02:01 PM

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.

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#134 Shi

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Posted 08 April 2020 - 01:59 PM

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


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“One day Alice came to a fork in the road and saw a Cheshire cat in a tree. Which road do I take? she asked. Where do you want to go? was his response. I don't know, Alice answered. Then, said the cat, it doesn't matter.” - Lewis Carroll

#135 soutie

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Posted 08 April 2020 - 01:57 PM

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


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#136 soutie

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Posted 08 April 2020 - 01:54 PM

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.

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#137 Lionelza1

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Posted 08 April 2020 - 01:51 PM

Round 2 is comming
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#138 Shi

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Posted 08 April 2020 - 01:31 PM

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.


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“One day Alice came to a fork in the road and saw a Cheshire cat in a tree. Which road do I take? she asked. Where do you want to go? was his response. I don't know, Alice answered. Then, said the cat, it doesn't matter.” - Lewis Carroll

#139 Spell Jammer

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Posted 08 April 2020 - 01:20 PM

Big klap, down to 5400.

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


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#140 soutie

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Posted 08 April 2020 - 01:15 PM

Ha Ha I very much doubt that..... :D  :D  :D  :D

 

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


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

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