Falling KnifeNever good to try and catch one. Lol
This feels like a total capitulation. Tax loss selling? Where's the bottom? I dunno. Decent volume. Totally oversold on the chart.
Never thought there was much of a Guyana premium in the sp but apparently there was. About $3 usd or about $250m usd mkt cap shaved off.
What I do know is FEC has 41k boe/d, Puerto Bahia, ODL pipeline, $2 usd in cash, whatever (if anything) they can get from a sale/farmdown of Guyana. FEC is very cheap compared to Parex, GTE etc.
Fwiw, I bought some yesterday and today. Buying at over a 10% discount to Gramercy's recent buy at an average of $6.42 seemed like a good idea.
We shall see. Glta and all imo.