thanks guys, really appreciate all responses!
agreed, OEL is a great play and a buy and hold. i hadn't factored in $1+ for Cinco success or the followup well. (i really really like hawkeye and had forgotton about the 2nd well in the agreement!). i had been working on some pre-drill numbers of ~20cps and immediate Cinco success case of ~45cps. i think i got there by taking a third of the unrisked 600m upside (not accounting for the rest of sc55 portfolio). clearly a pretty dirty approach and way off your estimate. can you tell me why you are thinking $1 (i'd prefer for your estimate to be right haha)?
in fact, i also have a slightly different query which you guys may or may not be able to answer. i am currently long but plan to double that. i'm also looking to use my CFD account to hedge Cinco 1 outcome by taking out an equal short position with guaranteed stop (12.5%).
my thinking is: odds are the well will not be a success so might as well pick up some on the sharp fall and hold the reduced FPO value holding for a second well and longer term. but obviously if it hits, my short will get killed and erase my long gains. IG offer guaranteed stops for a premium and minimum spread is 12.5%. clearly 12.5% guaranteed stop is a great insurance if the well hits and price doubles against me! i just can't see them taking those odds on themselves. any comments/opinions??
cheers and good luck for this year!!
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Last
1.2¢ |
Change
0.001(9.09%) |
Mkt cap ! $57.54M |
Open | High | Low | Value | Volume |
1.2¢ | 1.2¢ | 1.2¢ | $1 | 92 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 5214781 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 960978 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 5214781 | 0.011 |
14 | 20687452 | 0.010 |
1 | 100000 | 0.009 |
3 | 370247 | 0.008 |
2 | 550000 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 960978 | 4 |
0.013 | 9747894 | 13 |
0.014 | 13096952 | 13 |
0.015 | 4427000 | 7 |
0.016 | 714285 | 1 |
Last trade - 10.06am 06/09/2024 (20 minute delay) ? |
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