RE: Africa Oil to hold Twiga well call Nov. 27 Thanks hhifan
for link to Tullow conference call
I really don't know what to make of today's pricing of AOI....I have been around this business for over 20 years. I was there when CNQ (Canadian Natural Resources) started trading at $1.50 and I cannot count the number of times they split the shares and raised capital since then. Look at where they are now. These are early days for AOI and the discovery is not fully understood so uncertainty + less pay than some traders were expecting led to a sell off. Stop loss heaven!!!!
Then of course "game on" for the shorts who did not seem to be covering at the close. I reiterate, these are early days for AOI and volatility is normal although, I must admit this was quite an exaggerated negative reaction for such positive news but then again these markets have changed. "Institutions" just sell and ask questions later.
AOI and Tullow have a huge land position in what looks to be a very prolific newly discovered oil basin. I know that this is the beginning of a great growth story so I am all in and the Tullow buyers today seemed to have confirmed that point of view with their shares having hardly been scathed.
I always think greed is at the bottom of most mysteries and my bet is that today's trading action in AOI has a lot to do with that...
Thanks to the informative posters here I really appreciate the sharing of information for the benifit of all invested in Africa Oil
The Tullow news conference tomorrow is very important thanks again
GLTA
B