Huge amount of sellers jumped out of the woodwork this morning.. Why someone would dump $100k in one hit at 30c is beyond me
After waiting patiently all day picked up a parcel at 28c at the close. These should go nicely with my AUT holdings.
Picked some more up at 26.5c!I'd love to see them drop more, if they do I'll top up further, but I think I have almost as much as I want now. Good times!
Picked some more up at 26.5c!I'd love to see them drop more, if they do I'll top up further, but I think I have almost as much as I want now. Good times!
Wont be good times at this rate unless you feel like it's a bargain buy @ 22c now instead of 28c.
I personally would like to see it head the other way!!
I do think it's a bargain at 22-23c, and wish I'd waited a bit longer rather than rushing in straight after the 17c shares started being sold. having said that, I still think they'll be back up above 30c in the not too distant future. Unfortunately I have had some unforeseen expenses come up, otherwise I'd be topping up further at around 23c.
I think the 17c shares coming into peoples' hands at a jittery time has encouraged profit taking, and that has also brought AUT down, both by spooking people and also by encouraging them to sell AUT and buy EKA.
To me it's a pretty simple situation. We have a reasonably solid idea of how much oil we can get out of the ground we have, how much it will cost to do that, and it just depends on how quickly we can get that done (which we have some idea of) and what the price of oil does (which I see ultimately being our main price determining factor).
I don't think spending some time back in the mid to low 20s is going to hurt in the long run, so it's just a chance to stock up. If I hadn't had my expenses (I'm unexpectedly having to buy myself a car) I'd be glad for the opportunity to top up again.
I think EKA and AUT will have a bit more consolidation but I dont think that it will go too much longer.
EKA pretty much follows AUT'S chart and I feel that AUT is pretty much on its bottom, so with that assumption in hand EKA should start heading back up by early next week.....Just my own thoughts and do your own research.
Anyhow here is a comparison chart...EKA has an uncanny resemblance to AUT IMHO and they both give hints to each others trades.
View attachment 38683
with this in mind EKA is looking pretty good then at the moment.. i think its lagging behind a bit
I agree Adobee that it's certainly lagging behind in ratio 4.1 to AUT but could it be because EKA dont have as much going on now most wells are completed with Hilcorp.
Both stocks have been driven by news.
Aut still has news to come where as EKA has little as it shows with EKAs volume in trading. Basiclly zilch.
EKA does have something going on at the moment. It has two wells waiting for fraccing or being fracced. It does not have as much going on as AUT but that in a way is an advantage. Because the drilling in sugarloaf has slowed it means that EKA will/should be cash flow positive ahead of AUT. Hillcorp are getting closer to having recouped their drilling costs so EKA will soon get cash payments from the producing wells. This should leave funds available to prospect the new lease areas.
In addition there is still the possibility of a takeover. There is also good news on the oil price. Good for producers that is.
EKA has a little ground to make up on AUT. In the past it has lagged but in the end it has caught up. With one AUT buying 4.69 EKA I suggest that is a good deal providing there is not a capital gains tax cost that is prohibitive.
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