What's going on with Fastnet Oil and Gas

grange mac

Guys,

Any thoughts on why so took a huge dive today...now down to half floatation price so to me its tempting but interested in what happened today.

Thanks Gm

Mr.David

Why is it tempting? I mean, given that you don't know why it nose-dived, how can you be tempted to buy it?!

grange mac

The fundamentals are sound and he has a good track record..

Muilleann

Fastnet is a speculative buy but the Management have a good track record and it has reasonably good prospects.

I'm a holder so DYOR.

Comordha

Happens with all exploration stocks, look at Petroceltic, Petroneft, Providence Resources, Gulf Keystone, could name so many others.

Initial excitement about prospects always gets dragged down by later realism of true costs associated with actually getting the stuff out of the ground.

jamo2oo9

Would it have to do with the oil leak in California yesterday? They could be the company who owns the pipeline?

beardy_smith

how anyone can sleep at night owning those ( wing and a prayer ) investments is beyond me

jamo2oo9

beardy_smith wrote: »

how anyone can sleep at night owning those ( wing and a prayer ) investments is beyond me

I never invest in stocks. Only commodities as they are much more predictable to be honest

beardy_smith

jamo2oo9 wrote: »

I never invest in stocks. Only commodities as they are much more predictable to be honest

i beg to differ strongly

grange mac

jamo2oo9 wrote: »

I never invest in stocks. Only commodities as they are much more predictable to be honest

Guys noting that we are going slightly off topic here but I do invest....in speculative companies...I too have shares in p.Celtic & p.neft....overall am in profit with them as its bout good guesstimate when you pull the trigger.

That is why am looking at fastnet as an opportunity may await the brave....on the other hand I never invest more than I can afford to walk away from.

So does anybody actually know what happened fastnet?

pday1234

I also have an interest in petroceltic,like the above posted companies there seems to be serious manipulation of these stocks by mm or what I suspect a lot of shorting.
We are constantly spinned a yarn hoping for the next big strike but as each quarter progresses your suffering dilution of the share or the sp dives on good news.
I am not willing to stick in these shares much longer,once I hit an exit point where I am above the water I will be avoiding this sector as its too uncertain and not enough transparency for my hard earned crust.

P_Cash

I see fastnet has opted out of oil and gas, and choosing to become an equity company, looking to invest in healthcare /biopharma.

Least they faced the music and seen it was end game.

Best of luck to them.