FCregret to hear you go. I hope the portfolio does better for...

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19/03/20

13:39

Post #: 43583068
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Originally posted by Fairclough: ↑

I'll still be here! Just was the cheapest way to protect a margin call and with a bit of uncertainty it made sense to myself. If the TGA price wasnt so hammered i would of exited that instead (good lesson not to buy illiquid stocks not matter how cheap the book value. Say one division had an offer for their market cap which was knocked back and price has collapsed since). I had great timing with one exit, but just entered oil search a little too early. In the long run I imagine the weighing scale of the market will come to my favour.

HZN has a lot of postive features i.e. maari / block 22/10. My question mark will be once hedging expires will they be able to finance an acquisition at attractive returns. Most likely but if we see a prolonged low oil price there could be a bit of trouble (i.e. back to the IMC options days). For myself a few of the bigger boys (wpl, osh etc) are a safer in my portfolio as their also low cost operators and have the $ to drag this out. If HZN can find an acquisition, some how PNG is pulled off and the depressed oil price is temporarily. The returns will be sensational. Hindsight is a wonderful thing, before the collapse and the AFR HZN was a cash cow at a P/E of 3-4. Technically woth hedging still is but will be reliant on the spot price in a few weeks.

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FC

regret to hear you go. I hope the portfolio does better for you.
great posts and hope you stay on the group.

I have my complete battered holding. But it’s been here before!

I have not bought any more yet.

HZN Price at posting: 4.4¢ Sentiment: Hold Disclosure: Held
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