Take advantage Sometimes retail investors are ahead of the heard. I bought GKP at 10p, it got manipulated all over the place and has done ever since; I still got my first ten bagger out of it.
The Morgan Stanley seller is really an utter bore but it does provide an opportunity for fresh investors or existing investors with deep pockets. Nothing has changed for EOG since it listed except
1/. They have got some fantastic prospects thanks to acquired 2D seismics and independant evaluation of p50 of 18 billion barrells of oil.
2/. They have raised money at 60c and 40c
3/. they have an excellent farm in partner at the 60c mark who is going to largely fund and carry out the 3D camapaign. This partner also has stakes in several other players in Walvis Baisin. I expect a multi prospect campaign across several properties to be announced soon and carried out in Q1 2013.
4/. The stock hit a high of around $1.50 on the hopes of a distant neighbour's drill. This was Chariot and I think they were 600km away in completely different geology. They found some gas but the two drills were disappointing for Chariot and its partners.
Remember this. PCL just paid $4million for an extra 10% of one block in Walvis Baisin. HRT paid $750 million for UNX's blocks based on 2D alone. ECO has 3 large blocks in the heart of what is thought to be the oil kitchen off of Namibia. ECO's MC is less than $20million.......nuts.
I think this is a great opportunity which is why I have accumulated a decent holding. HRT, Chariot and Repsol are all drilling in our region next year. If one of those strike oil.........kaboom..
5/.