I can never figure out the capricious of Mrs Market. All information has been out there since the capital raising yet she picks today to do
her buying.
Not that I'm complaining.
exactly Rabbi it has been no secret the metrics for otto yet perhaps it was the spectre of the CR done some months ago still lingering round or people suddenly realising they are drilling three wells at present with results on the first due any day now (perhaps a bit of FOMO). Best day on the sharemarket in quite some time due to being overweight OEL ....
Time is a great teacher, but unfortunately it kills all its pupils
Good day out for Otto, that's for sure. Make's up a fairly large chunk of my portfolio which is always risky around drilling time - may need to drop a few off pre-results to reduce risk and buy back in on any dip. There will be up's and down's in the weeks ahead.
I do like the chart that Otto present showing the Market cap to flowing barrels of oil. It would look better for them (relative to CTP and HZN) if they did it on a EV basis, rather than market cap basis. I don't really mind, I hold all three
TH until both drills outcomes are known if they find commercial hydrocarbons in one it will be like winning lotto .... don’t want to tempt fate and suggest they find commercial hydrocarbons in both ....
Given BP drilling wasn't to complete until early November, I think there are three current scenarios:
1. There has been a serious mechanical issue with the drilling and they have halted until they have a known path to resolution; or
2. They have had a sniff of hydrocarbons already and would like to assess without releasing any information to the market until they are certain of what they have found; or
3. They are about to enter the top of the target formation and would like to have clear communication to the market (rather than speculation) of the results.
Surely if BP was a duster, they would have announced it fairly quickly. Why would they put the securities for all ASX Co's involved into a halt for the full day and not release to the market!
Look at the latest on HC it appears as though the P&A permit was verbal only and has now been withdraw good thing it’s in trading halt would of been traders paradise all of the misinformation flowing around ....
Look at the latest on HC it appears as though the P&A permit was verbal only and has now been withdraw good thing it’s in trading halt would of been traders paradise all of the misinformation flowing around ....
As I suspected BP not commercial and BYE down 5 cents on the news. Big Tex was rated over 50% COS so here's hoping.
Announcement tomorrow morning at the latest.
Reply With Quote
Originally Posted by boysy
Bookmarks