Moving onwards! A few weeks ago TRP, tipped for Feb 2010 spudding has started to move from the dusty bowls of Uganda. Now at 4.03p 4.10p to buy – movement from 2.35p has been quick over the Christmas period the iii board rallying for news in anticipation.
Reduction of MM’s holdings through PI buying meant that hedging the SP at 5-6p would see most investors doubling their capital and awaiting news for an oil strike in the well to produce a possible 15p SP or a potential takeover of +20p.
Great news for the PI’s – It is likely that 5p will see a sell out for those doubling money and anticipating a fall to 2p with free shares to top up in the event of a duster. If they do strike oil, which is high probability in this region, the share price is looking for speculated 7-8p prior spudding and those in the know will hold out past 12p.
Current strategy is to double my money and leave the free shares to ride – pure profit in my portfolio.