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08:55
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Originally posted by ecneitap:
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I just find everything frustrating with this company. We all do. Oil is in a solid uptrend - the last year it has risen over $60 USD - with more to come. Will it get to $70 - 80 short to medium term ?? - technically my view is yes it will. Will it get to $100+ longer term ?? Technically my view is yes it will. So what will OELs share price be then ? It’s gone backwards on the first $60 rise !! And who owns the near on 100 million shares that constantly appear on the sell side everyday on the market depth. Yes it’s capping the share price terribly yet the real problem is that there are no buyers to shift them or at least rattle them enough to get them to take them off if their main purpose is to cap and not sell. Sure keep ‘conservatively’ looking for opportunities - the way OEL plod along this could take many more months if not years. My view once again is do this yet also take some action NOW by doing a buy back. Buying back 200 million shares over the next 6 months will cost what ?? a small $3 million at an average price of let’s say 1.5c which should see the price form a new base around 2c whilst they are working on bigger picture agenda items - they will have the money to do this. Then after 6 months decide whether they want to continue with the program for another 6 months - no new institutions are interested in buying a stock that’s only 0.9c with a market cap under 100 million. The company makes excuses and talks about so many things being out of their control. Well a buy back is 100% in their control and can be started immediately and working for us all while the Board do whatever it is they do on a daily basis in-between times ! I could say more but I’ll end the rant there. E.
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yes I agree it’s something they can easily implement that will at least have a short term affect. Maybe they’re concerned that they can’t show their exploration brilliance by doing this thing????
(20min delay)