UK 09:40 Wednesday, 30 September 2026
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Infamous bear raider Lucian Miers is of the view that the oil price is not going to spike higher in a hurry and that this is going to cause real pain across the sector. He has made money shorting Afren (AFR) where the debt looks company consuming at current oil prices but perhaps the bid will save it so Miers has closed that position. However...
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Comments
handybrownone
Shorting LGO because an ex-director sends Tweets. Excellent plan. Oh yes Matt Lofgran often bigs up on Twatter NTOG and PRS – almost every day in fact – Short those two now. Richard Poulden never tweets on Wishbone – Long (despite it being at all time low and 25% of placing price). The first two have some explanation. I would genuinely like to know a little more why he thinks short LGO
wildrides
He will get burnt on LGO ……………. Lemongas is just a shareholder now and he supports the share because he has a big holding. LGO are just going to keep on drilling with a near 100% cos on infill drills and the cash will be rolling in from an inline flow meter sales system with no storage hold ups .
The big man has a big following and he has made alot of morons very wealthy with LGO ………. thus he has a legion of fans just as he has detractors . They are just a bit quieter than the detractors are in the main.
Daniel Victor
I have enormous respect for Lucian,but I will not actually be following him here simply because oil has fallen too far too fast.So while it may be possible to quantify the supply side of the equation,judging the demand side is much harder because the market hasn’t had time to respond to the current low price of oil – notwithstanding the weakness of world economies.