(EOG:Ln) So we hear of Europa signing a Jv for its Irish assets with Kosmos, What really rings true louder today more than ever are words of a new friend after some recent discussion. ” Most P.i’s don’t appreciate the time it takes for a valuable licence to become appraised and explored ” I think there is never a truer statement when you look at GKP with a bucket of high value hydrocarbons and today’s current position with a technical pullback walloping the 140p resistance and yet another possible sniff of a quid, Thankfully I see some relief with 130-140p, regardless I don’t think this is the last of GKP from a long shot.
Back to EOG the stock is towering in the 20 month chart with a long leg doji and some expected sign of oversold and leading exhausting signs…
My thoughts are take some off the table and de-risk position. I’m not sure proven resource is getting the correct value attributed right now and with the overall rude awakening of a global pullback in play I’m not sold that potential is enough to drive any stock out of the bear market into a bullring in the current climate.
For Me I’d say their is a bigger argument to reduce Eog and look to Buy into the GKP weakness. (I hold no position in either).
After a interesting chat with Sound Oil its fair to say there 18months of pain could be subsiding and after tipping over on DocsBlog I draw your attention to a 1st Gas milestone, (not of great value) and also a relatively low risk drill at nervesa along with a high profile asset that’s under further strategic review by the Bod.
More to follow from Sound Oil, Gkp and Eog… If nothing it highlights the roller-coaster of the investing world to the retail market (Private. Inv.)
Quick touch on base with the loonies calling out Gold at $800-$1000 #Pure-fantasists armed with hope and blind faith.
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