Granger,
The main reason appears to be a seller/sellers. Not suprising with Tricom as the house broker, and the only broker that appears to cover it. Distressed/overleveraged sellers strongly suspected.
Late last year there was a bit of selloff due to geopolitical concerns (the Selmo field in Kurdish area of Turkey), but hey oil was 2/3 the current price and IPM over 130 then, much less gas.
The USR program has yet to meet early (probably excessively) high expectations, but hey it was only to have been the icing on the cake. Also that dissapointment mostly 18 months ago.
All said, imho dirt cheap, and I have been buying small parcels since Jan, bought another 30k yesterday at 1.005 as my last alternative oiler COE moved upwards. Everything else moving up, I look for what hasn't, yet.
EL
IPM
incremental petroleum limited
Granger,The main reason appears to be a seller/sellers. Not...
-
- There are more pages in this discussion • 20 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)