I'm usually pretty pessimistic, [see my previous posts!] but I think you're wrong this time. Recent licence awards with more to follow plus positive attitude [at last] from Tories, means this SP should rise. The oil price could drop a bit more but even the Saudis are starting to feel a bit of pain. I can see a slow rise throughout the next 2 years. Let's face it, if the huge increase in population in the emerging economies is to be accommodated, these resources will have a premium on them until we find a viable renewable alternative to fossil fuels. That ain't gonna happen soon! Buy now or regret in 5 years time.
Last weekend holiday
Before traders all back and things hot up again!
I am less bullish today about EDR now that the POO has plummeted & the anti-fracking fraternity think EDR is only about fracking. I will buy back in circa 10p-11p, if the chance arises, but the picture has changed somewhat over the last month or so. Seems to me that OPEC is a sort of legalised cartel. What we are seeing is a true supply & demand picture & look at the results. OK so oil futures are up 10% but from quite a low base. What a great result for UK industry transport costs but that's never publicised.
All buys. I think it's about time this share reflected it's true worth!!!!
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