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Dropped 75% in a single day.  LOL.  Overreaction and worth going long?

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Didn't notice the first one.  Thankfully I didn't enter there 🙄

Need to be a bit careful...

Edited by dmedin
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5 hours ago, dmedin said:

Didn't notice the first one.  Thankfully I didn't enter there 🙄

Need to be a bit careful...

The first drop was bad news about oil quality in the latest well in Ghana, the second big one on announcing cancellation of the dividend.  Does seem a bit of an over-reaction and I bought a small holding for a trust after the first drop.  I plan to hold on long on those as the price has recovered somewhat in the past few days although I suspect it may be quite some time before it gets back to the price I bought at

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11 minutes ago, Andybram said:

The first drop was bad news about oil quality in the latest well in Ghana, the second big one on announcing cancellation of the dividend.  Does seem a bit of an over-reaction and I bought a small holding for a trust after the first drop.  I plan to hold on long on those as the price has recovered somewhat in the past few days although I suspect it may be quite some time before it gets back to the price I bought at

Hopefully it pulls back up for you 🐮

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A bounce back up to around £1 per share does not seem unreasonable and would only be a small retracement (38%) of the precipitous drop.

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More bad news!  Would love to see that bottom of 38p tested.  A nice firm bottom would make go long.  :P

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Announcement is one to look out for, bonnie loons.

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Looks like all the negative news is priced in and the only way is up from here 🤔

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More bad news for Tullow today.  Does this company have any basic intrinsic worth to stop it falling to zero?

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