RNTK restarted talks with Texaco today.
Co will not divulge the time frame at all ...
Still I am told that things are going positive..
Also they have several others who are interested in the RNTK.
Some have mentioned the declining value of oil, the lowest of crude prices and possible all time record producing by the OPEC in 98 as well as friendlier Iran (they have sweet oil) affecting the GTL emphasis ,, taking away Texaco focus from the nego etc.
As for the GTL cos share price softening, possibly and perhaps Texaco nego might get delayed,,, but I dont believe Texaco or any others who have announced the contract with SLHO or RNTK will give up the GTL.
My argument is that simply what ever GTL can recover is basically free, even tho have to pay out initial infrastructure costs.. and if it is affected RNTK will suffer less than SASOL or SLHO, since we can recover the refinery feed stock, aside from the natural gas..
I wouldnt bet a farm and have dead money all tied up in this but will keep a significant portion committed to RNTK for the event it does blow.
Its just waiting and waiting gets down a lot of people who thought the announcement was arount the corner... as some have touted here during last conf in Houston..
Also there is some one I understand spreading a rumour that Texaco deal is signed for 10 million bucks..
I asked many people in the co and fund managers who are MMs on this and they all flatly deny this,,,
It was a dead money for many of since May of 97 and dead money for many who bought the IPO at 5 and 6 almost a decade ago...
They are saying ,, We waited 5 years and we can wait few more months..
So if any of you think that this is too long a play I think you shud look for more immediate term stocks or just sell this and look for the buy signal on volume ir Uptick and use the money on something else..
However, by the time you re allocate your funds this might have gone to 3 - 5 before you can turn around,,, Oh yes it will see that when Texaco announces it ...
We can individually play both long and day trade,, depending on diffrent stocks, with RNTK the intra day spread is not worth while to day trade..
pbs.org go see "Betting on the Market"
They had a rerun of this program on PBS last night,, there are many of us in that program,, people like you and me trying to reap financial reward.. also features Peter Lynch, Jim Cramer and others..
Joe |
