that the company is running out of assets and once it does it really is worth nothing.
Rivermore - sorry about the typo on "unbelievable"
Mkt telling u that PCL has zero chance of success on this drill (I know I know always a chance - hence the reason why even though I moan about the co I still hold 1.35mln shares and I'm now down -£127,000). Why haven't I sold out and to answer DKnow previous question? To be totally honest, if you've lost that much money u might as well run it to zero. Losing -£127k or -£195k still feels the same. It hurts!
So if we all think the chances of this wildcat drill off-shore Kenya are so slim why do we think Namibia will be any different? So if this drill fails then the stock is 2-3c with an added capital increase just to add to our woes.
So what then? The last chance saloon in Namibia in 12-18 months. Someone tell me this. If a drill in Namibia fails (cos it has the same chances of success as this current drill) what then? Why would the stock trade any different during a Namibia drill because the mkt knows the company has very little left after that.
I'm running my position to zero because there is always a chance no matter how small (I would feel proper sick if I sold out near the bottom) but I shall say this. It is going to be extremely difficult for this company to raise extra cash with very few assets left. I was a lot more comfortable in this name when we had 4-5 possible drills but not as we stand now.
Even the most committed bulls must realise that this company will soon be a considerable trouble. I'm sick of hearing the "stock is cheap" because it clearly isn't. If it was cheap it wouldn't be 4.9c. The total lack of any rally tells u that. If another E&P had success in Kenya or Namibia and it was still 4.9c then yes I would agree its cheap. If we had success and it stayed below 25c I would agree its cheap but as we stand now, we are running out of assets, with have a capital raising coming and no other E&P has had commerical success off-shore Kenya or Namibia. At 4.9c it isn't cheap, its expensive. Probability tells you you'll be able to buy stock at 2c in the future.
Saying all that. I bought PCL for it to find oil/gas and if it does its 50c, 75c or even $1 so whever you buy it as 2c, 10c or 25c its irrelevent. It a pure high risk, high reward punt
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ur all ignoring the fact....
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Last
1.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $154.5M |
Open | High | Low | Value | Volume |
1.9¢ | 1.9¢ | 1.8¢ | $14.54K | 771.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 5566161 | 1.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 1815008 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 5460951 | 0.018 |
9 | 6513970 | 0.017 |
24 | 13682855 | 0.016 |
23 | 14001048 | 0.015 |
12 | 2456093 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 1788271 | 4 |
0.020 | 1999448 | 10 |
0.021 | 7100000 | 6 |
0.022 | 1945426 | 6 |
0.023 | 876672 | 4 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
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PCL (ASX) Chart |