MAY 0.00% 2.0¢ melbana energy limited

Agree Spitfire, RZ will be feeling the pinch (especially from...

  1. 9,750 Posts.
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    Agree Spitfire, RZ will be feeling the pinch (especially from those involved in the recent placement) and would be itching to release something firm to market. When dealing with Chinese majors (i think most are in agreement the likely partner is one of the Chinese NOC's) and in a country like Cuba, nothing will ever run on time.....surely RZ is/was aware of this and will take this into consideration re. future statements. I firmly believe the SP would be low/mid 2's had the statement been "in the coming weeks/months" as opposed to "this quarter" (ie. the quarter that ended 4 days ago).....only Wed/Thurs last week the SP was 2c, now we're currently down 15-20% simply due to failing to meet the self imposed deadline. I always expected an overrun of a few weeks but doesn't changed how cheesed off i am at the current situation.....a real opportunity has been missed considering the current oil market and anticipation surrounding the Cuba farmout. There's been 2 large sells this week (11mill @ 0.018 and 7mill @ 0.017) and on face value one might think omg big holders getting out maybe i should follow suit, but who's to say said seller wasn't also a buyer? Sell with one broker and buy with another to create panic among smaller holders? I've learnt to take nothing on face value when it comes to the SP patterns/movements of MAY, especially when i witness the same old open/close auction shenanigans.
 
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