Club Mulgoa

Wednesday, November 26, 2014

KAR

I topped up with a small parcel this AM.  It is very hard to believe that at more than 250m of nearly all oil, the market only increased its share price by 10% after trading resumed yesterday.  For me, it has dropped nearly 50% from my average buy price.  Hence, this will average down my buy price.  Meanwhile, with FAR, it found some oil in Senegal and its share price nearly exploded a week or two ago...  We know the price of oil has fallen but this cannot be forever.  It is not cheap to find new oil field and because most are offshore, the cost of production is exorbitant too.

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