Very hard to call. I think that the Press statements are intended to get the Government to act fast on the tax regime and the Oil co's will sit on their hands until this is done. I'm in the same dilemma as you. My thinking is that there must be something happening to cause a lift in the oily shares. Maybe the Brent price has finally bottomed and the over-selling is being corrected. More buys than sells for the first time in ages.
Dear Eggheads The news at lunchtime says that North Sea Oil production is on the verge of collapse Sitting on a fifty percent loss at the moment Do I panic and sell, do I hold on and loose the lot or by holding on for another two to three years who knows what will happen? All the hype of the past is turning into a damp squib
It was always believed that PMG and Dana had "an understanding " . That being the case why didn't PMG buy Dana out ? It can't be because Pharos is a dud otherwise why would Hansa increase their stake ? Maybe I'm wrong but surely there's still a market for gas over and above that for oil ? All very confusing .
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