I suppose this is why I have never really considered oil & gas companies really can be charted(sorry to the chartists out there)or you can get to technical with the shareprice action ...it simply comes down to the prospects/permits/pre-drilling/post drilling results...clearly most traders see Bingham as a failure and interpret that the region has little prospect of considerable oil & gas flowing to surface.
Fact is, if the flow rates show some type of increase during January (as still could be the case as stated on this forum - keep an eye of the amount of water/frac fluid flowing back also..) the shareprice will move very quickly from present levels and run hard as the herd will re-evaluate the entire project.
This is the normal ride with O&G companies at this end of town...if your not comfortable with the risk reward if you dont have stop/losses if you dont have a pre-set sell price you run the risk to lose a lot of money...
I'm sure BOD are not happy with the share price currently (as many of them have a big interest in this company; which I like)but we all are investing in the technical team that is behind the company and strike do have a close association with cypress in the US...these guys know the local scene and I think (my opinion only) that Bingham 1 hasn't reached its full potential yet and I think they are being very careful to complete this one right but are not prepared to rush it...these guys are professional and I'm prepared to give them a few more months before giving up on this one...
Patience requird here atm...
my spin on it anyway...good luck to all
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Last
18.0¢ |
Change
-0.010(5.26%) |
Mkt cap ! $522.9M |
Open | High | Low | Value | Volume |
18.5¢ | 18.8¢ | 18.0¢ | $829.9K | 4.561M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
41 | 1034210 | 18.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.5¢ | 484437 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
41 | 1034210 | 0.180 |
28 | 1169360 | 0.175 |
21 | 1491675 | 0.170 |
9 | 793421 | 0.165 |
12 | 1162962 | 0.160 |
Price($) | Vol. | No. |
---|---|---|
0.185 | 484437 | 6 |
0.190 | 790647 | 7 |
0.195 | 1691838 | 16 |
0.200 | 3547202 | 14 |
0.205 | 788266 | 7 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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