Well it’s been a real rollercoaster of a day here in the city. First let me explain for the benefit of those who can’t work out what an embargo means. When an embargo is called on a stock that means that the company are holding back news the LSE can not publish any rns until the company lift the embargo. But what it tells us is that there is some thing out there that the company don’t want in the public domain until they see that the time is right. It could last a day or it could last a fortnight.
The markets are very buoyant at the moment banks and oil are expected to lead the charge back to normality through out 2010.
The whispers from here re’ GKP are that news is imminent re’ a funding solution.I myself see this as a bluff by the company to flesh out a TO bid which i think is well advanced. (My opinion) News from out of Iraq has began to turn positive re’ the dispute currently ongoing between Baghdad and the KRG the current Geo political situation is thought to be coming to a head through direct pressure from Washington which is rumoured to be under siege from the oil lobby! Targets on this stock are always being revised up or down depending on what house issue. I expect this to hit 100p before the weeks out.
I have rather took my eyes off the ball as of late now that i am back in the old country and firmly ensconced at my desk i shall endeavour to persevere with the updates.
Don’t take any notice of the shorters over on some of the boards and for Gods sake pay no attention to some of the nonsense currently being posted about oil spill overs in to other company blocks. Absolute nonsense!