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
23.0¢ |
Change
-0.005(2.13%) |
Mkt cap ! $659.0M |
Open | High | Low | Value | Volume |
23.5¢ | 24.8¢ | 23.0¢ | $3.083M | 12.91M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
13 | 825367 | 23.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
23.5¢ | 303948 | 5 |
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No. | Vol. | Price($) |
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12 | 821167 | 0.230 |
12 | 635813 | 0.225 |
13 | 914042 | 0.220 |
15 | 1825074 | 0.215 |
23 | 1068068 | 0.210 |
Price($) | Vol. | No. |
---|---|---|
0.235 | 250000 | 3 |
0.240 | 805779 | 6 |
0.245 | 1113061 | 16 |
0.250 | 2137222 | 30 |
0.255 | 2271890 | 7 |
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