Some have close $62.58 anyways was the best showing (monthly) in 6 yrs! Has oil found a floor at $60?
did you see that? ........
Brent closed $62.18 a good rally in last hour hope Asia picks up Monday, like to see $64 smashed. Genel presentation of f/yr results nxt week (5/3/15) well trailed but the geopolitical stuff will be of main interest and the payment impasse is high on investrs minds. We are only 2 months in to 2015 so what TH says about the 'outlook' will be interesting, I'm fairly sure GKP is off the radar older hands will know if there has been 'history' between the two cos that make it unlikely we will bid? Personally I think we have more interesting and rewarding uses for our cash. Its a big world out there, many opportunities for a co as well capitalized as Genel. Have a pleasant w/e as someone once said "I hate weekends cos the markets closed!" JL.
JL, I still regret it a bit. When I deduced that GENL were not going to be paid as per GKP I would have got out around 615p instead of 572p. This is a crazy game, but as you say, I am better hedged.
Very slow morning, OP $61.30ish and the sp not moving a great deal either side of close. Other oilies inc those with "stories" are flat.Outside of any big moves +/- were going to close on a par with l/wk. Give it to me now I'd take it.
These strictly bck of fag pckt calcs. One method of valuation is the barrel oil flow to arrive at the co worth.If we take our mrkt cap at $1.456bn add debt (10m) deduct cash on hand $490m and divide by boepd (70k) lower end of guidance, we get $12.075 which is essentially the equity value per boe produced. This can easily and quickly be compared to other oilies.
wake up and......
Smell the coffee! The sooner OPEC wakes up and realises with a 2m excess boepd prices are unlikely to return to $100! They have to be pragmatic and reign in absurd ideas for the OP. A reasonable price would be in the $60-$70 range which should suit producers and consumers so said Quatar's former finance minister. Supply and demand dynamics must be addressed or the OP will force action.
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