Extremely bullish here & been waiting for months for this opportunity to buy down here. Bought at 30.4p & will buy more if I get an opp at 29p-30p Bullish divergence on RSI. Resistance becomes support in most plays even if it takes a few weeks/months. 44.2p - 57p next resistance. Longer term will be more as this is a revenue growth making company.
Sorry for format copy paste wrong but here is the values for last years. 53.7m revenue 34.3m EBITDAX 36.2m cash generated Fully cashed up with 17M & 10m facility (undrawn)
South Disouq coming later this year. Easy profit to be made from this levels.
Still hold shares & plan to buy more once dust settles as I think the company will turn around once South Disouq comes online later this year, so one for the patience investors. 24.5p-25p is the support at moment
Forget the technicals on this one (falling knife) - pulling rabbits out of hats is not a good revenue stream. Impending recession and low oil prices will only add to misery and 'magic'. Fast way to lose money IMHO.
vcm11
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@mirtosat, impending recession is what media tells you, since when they ever got it right?
You do know how & when recessions happen?
Low oil prices at moment due to uncertainty & trade talks, let's see after south disouq comes online which doubles production then we can talk.
mirtosat
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@vcm11, I look at the fundamentals as well as technicals but the fundamentals in the oil industry are showing lower turnover and lower profit for the last 2 years. You could call that an industrial recession as their markets diminish. Forget what the central banks say. They are talking from the consumer’s view when talking about a recession. I know we have been in one for some time and values are way, way OTT. Just my analysis of the companies outlook. We need realistic values so that one can invest for the future.
UnknownUnicorn772665
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Are you still holding your long positions?
vcm11
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First Energy report has come out & with target of 65p.
Posted on twitter if anyone follows me there.
KoolTrader
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@vcm11, Looking good so far. Some positive news on the commencement of drilling today for the new wells. I think it is onwards and updwards from here.
vcm11
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@KoolTrader, Glad you held! I think we are about to start a nice trend as South Disouq comes online & we double production. finally the wait seems over...
KoolTrader
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What is the view on this one right now. I have bought in at 18p and will be topping up more as it falls as this is ridiculously low right now.
vcm11
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@KoolTrader, I would hold if I bought at 18p for sure, I reduce my position but still hold a few, planning to rebuy more ahead of south disouq coming online, that is another 5k to add which will almost double production, all a waiting game at moment.