The poster may be technically sound, but sounds like a bitter ex-holder with biased view, and is guessing just like many of us.
I recalled the poster mentioned CR previously, and the company responded with the cashing in part of the production hedged book instead. PEN still hold a strong production hedged book, of 6.6mil pounds at $51-$55/bls, twice the currrnt spot price to 2030...
The share price is going down atm due to GlobalX changing their index, who has bought in recently with an av entry price exceeding 30c.
IMO, anything below 25c is bargain. I would certainly go for the full exposure if see price below 20c. I am that confident and don’t need any unwanted distraction !
PEN Price at posting:
22.5¢ Sentiment: Hold Disclosure: Held
(20min delay)
