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Spdr S&P Oil & Gas Exploration & Production Etf V.XOP.W


Primary Symbol: XOP

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of an index derived from the oil and gas exploration and production segment of a U. In seeking to track the performance of the S&P Oil & Gas Exploration & Production Select Industry Index, the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the oil and gas exploration and production segment of the S&P Total Market Index (S&P TMI).


ARCA:XOP - Post by User

Comment by oilsupporteron Jun 12, 2017 12:32pm
190 Views
Post# 26352695

RE:RE:Huge volume again on LSE

RE:RE:Huge volume again on LSEAt the AGM, Art was asked why he has not rolled back the Canadian shares as the company has approval from last year of a resolution that enables it to do so, up to 10 to 1.  Art said at last year's AGM he would only do that if we hit in Liberia, so only on good news.  It was raised with him we could not do a financing here in Canada with our share price at these levels and so Art was asked if he was prepared to do a rollback.  Art said two things - first, that the largest shareholder asked him not to do a rollback.  So he is not looking to do a financing here at this time with a rollback.  He pointed out that he is debt financing the appraisal well in Nigeria and was meeting groups to get proposals as he had one option and figured they could do better, but that will be settled this month, with long lead items ordered, and funds available this year.  Goal is to drill in 2017 still.  Second, he said he thought it would be easier to move the share price from $.01 to $0.05 than it would be to move it from $1 to $5.  And so it sounds like his point is, I think we can move this share price back up to the level at which we can eventually do financings in the future.  The intent is to drill Nigeria before another financing, and that should put our share price back on side in Canada to do so.
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