https://markets.*.com/commodities/oil-price?type=wtiLike or not each investor must face the reality.
The reality is the oil price is going backwards.
If one hand is true the price must be measure by total quarter price and not one or two days, but the quarter prices is falling quarter after quarter, meaning…. sounds very reasonable several oil companies refrain bid at BAUNA (pls read the peregrino operator recent set of actions) or any other field looking the scenario is not so positive in terms of margins.
But our "board" with so amazing expertise and so smart decisions decided not just bid, but give a "winner bid" in such way nobody will make "better".
To people that use to hate me, please read few weeks ago what I wrote,.
I have alerted that desperate people can do the most stupid thigs and I wrote clearly this weakness will promote exactly that. Kar will pay MORE because he is PUBICLY the weak board with a tie in their necks.
Make a search and this clueless have said that.
Of course is not popular say bad things when huge amount of people with huge amount of money is lost and people trying recover.
But you can bet.. Is not the silence or fake good news or just pretending that make difference in share price., Exactly the opposite... as much people try to hide the reality, more the reality comes to highlight.
The board obviously overpaid, and how much ? Who knows ?(aside of upstream media … and ?)
This next days will be dramatic (to up or down) because this cannundrum will be revealed...and the destiny of the company will be show,,,
When people come here and write we will be so big so big that just Woodside will be bigger, at least they should read our balance sheet and notice we have no size even to be where we are... (bidding to big fields). Pathetic and sad.
I called to Brazil to some friends and ask about BAUNA/
One of them said...
Look.,... I always thought the Australians are smart but that company is not the one that try to list in stock market and failure like a dog few years ago ?
I told.,.. yes... this is the one..
He told... well... now they can list themselves in the list of companies that make the worst deals of the year.
I know... yes, some hope exist if some aspects maybe can help make this deal not so bad as look like, but the movement at screen shows clearly that
a) the volume is low
b) for every buyer exist easy sellers
c) the price just move back from 0.88/0.90 to the range of 1.12/1.18
d) no confidence at all even after be announced that Kar is a winner bid.
I wish (honestly and sincerelly) good luck to all.
I spent 5 years to recover my losses with that company. Don't loose you hope.. if all goes wrong for sure you also can do that, slowly and day after day !
Cato
(20min delay)