If everything goes to plan, in 12 months time we'll be in a much better position then we are now. It could be argued that a lower oil price over the next 6 months actually benefits us. If the price stays lower for longer they'll be more cutbacks, balancing the market quicker than it might have done otherwise. That said, hopefully the oil price will be starting to gain some momentum as Stella comes online. Time will tell. GLA
Agree. Just have the patience to hang on until next year. All commodity stocks getting hammered short term.
North Sea assets 30% sales valued at $500m or £330m with a production figure 50,000 bopd given IAE's target of 25,000bopd in 2016 a similar valuation would mean a share value £1.50 on thoses figures , it's simply just a matter of time and any increase in the price of oil in the meantime would probably see £2.00 per share
Funny not many Rampers about now I'm still in long got a day job.
Given that production is good , half of it is hedged . Oil is stable at $56.5 ish . Something similar happened to Premier Oil where it went from 147 to the mid 130s in 2 days, from Friday to yesterday. On low volumes it only takes a few shares to keep on pushing the price down . But given that production will more than double and things are steady this over sold position can only be due to the summer fun and games of low volume markets . Back to the beach and focus on tanning .
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