Weekly Update

New Changes

* From daily update change to weekly update or as and when I feel that I have something interesting to share.

* Updated my stock allocation to include US & SET as of 16th May.

US Market

Just started my first investment in US market last night. It is exciting as the change in share price can be quite drastic within seconds.

Ring Energy Inc (REI.NYSE)

Jin huat! 

In the green for the first time in FY2019 then came the pandemic. 

1) Hedged from now till December 2021, means they are not required to deliver a single drop of oil to get paid. Note, there is a difference in their hedged price in FY2020 & FY2021. The later is 5-10 USD lesser.

Reference from REI 1st Qtr Presentation Slide, page 19

2) Delaware sale was previously announced back in April that they entered into a PSA. Current ongoing for due diligence from the buyer side. Deal should go through within June.

3) Started shutting down wells in April and 100% shut down all well production on 23rd April.

See the Transcript for Q1 REI earn calls here.

Fortuna Silver Mines Inc (FSM.NYSE)

Bought it the first thing when market open when I see silver price at 16.8 USD per ounce.

 

It is one of the few silver mining company in the green and only one below NAV. 

(Important thing is price/NAV below 1, I am that cheap)

As of now, its price per NAV is already above 1. 

Disclaimer: Shared opinion on this blog is not to be treated as investment advice to the readers. Please do your own due diligence and consider your financial goals before investing.