I didn't misconstrue your message; I focused on the micro element of your post; which highlighted your lack of understanding of the announcement in the context of the drill. The supposed 'core' was focused on oil price and made some fair points, plus a bit of TA which by naturally ignores fundamental factors. However, the clincher was that it centered around a critical misunderstanding that "Byron's costs are US$15/bbl plus US$30 in transportation....they will not be profitable at $40 oil price". That is an utter fallacy and I'd encourage you to read the quarterly to see how that math doesn't stack up. Whilst BYE would lose value in a poor oil price environment, it would survive profitably for years at minuscule prices due to its low cost operations.
In a nutshell you could've summed your post up by saying that you think the oil price is going to go down and that you don't think BYE is a great investment for that reason. However, your lack of understanding of the company and the recent announcement came across poorly; especially when repeating a non-factual statement relating to production cost.
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4.6¢ |
Change
0.001(2.22%) |
Mkt cap ! $49.62M |
Open | High | Low | Value | Volume |
4.6¢ | 4.6¢ | 4.6¢ | $15.44K | 335.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 1323175 | 4.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.7¢ | 244510 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 1323175 | 0.045 |
1 | 1000000 | 0.044 |
1 | 11744 | 0.043 |
3 | 450000 | 0.042 |
1 | 2300000 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.047 | 244510 | 3 |
0.048 | 62830 | 2 |
0.049 | 26427 | 2 |
0.050 | 554067 | 3 |
0.051 | 100000 | 1 |
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