RE: Buy @ 1.24U should find strong support at 1$. I put my orders around 1$
The trend is now down, no support before 1$ and no news over the next 2 weeks so u better off put ur buy order at around 1$.
I think we are still a bit overpriced at today level if u take into account
some seriously overspending management, major delay's in drilling and results of those wells. Unstable regional concerns, opresive fiscal royalties of the oil in Kaz and likely further dilution of shareholders to build a pipeline and or drill more wells etc.
Dont forget that they will dilute by another 100 - 150 millions shares in 2 months. We will have around 420 millions fully diluted shares.
I dont think think u will reach a billion barrel but if everything turned in the good way we can expect 200-400MM barrels 2P within 3 to 4 years. A price of barels "P in Kazak is worth around 3-4$/barrel. So u can make ur own conclusion of the value of the stock within 3 to 4 years if everything
Julien