Oil india is now on board with ONGC operating right next door. I am expecting this to settle around 10p soon and potential to reach 100p. ONGC paid over 2 billion $ for imperial next door. Gooluck to all.
I sold all 1m shares a couple of weeks ago at a big loss when I saw continued reduction of production again plus the sentiment of Russia in general. Even if the latest drill is successful it's going to a long time before they get production up again to profitable levels. The management are lucky to still have jobs with their constant underperformance
can the share price break through that 6.5 barrier?
well I note Macquarie no longer hold 42.86 mln shares, and now Ceres Environmental of Boston USA hold 23.98 mln shares - so the balance which may have overhung the market may have found a new home and thus the share price has started to move up - subject to sensative international events this could be the very long awaited upward trend - next week will be interesting, will the share price finally break out or not!!
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