It is very sad about the fires in Canada but just shows you have to look at the whole picture.
Just when the fundamentals look like getting the oil price down, another random act puts the mockers on it and up it goes again. Yesterday the EIA announced that inventories had built at a much higher level than expected, +2.8m barrels against the +560/- whisper. With a build also at Cushing and an unexpected rise in gasoline stocks it was a clean sweep for the bears until news came through from Fort McMurray in Canada, the home of its oil sands industry. The dreadful fires there have led to most of the population being evacuated and that included workers for Shell and Suncor amongst others. Canada produces a little under 2.5m b/d from oil sands and whilst it is unlikely to be offline for long it was all the bulls needed. Prices had risen when the news came through only to be hit by the EIA but overnight the news from Canada worsened and this morning WTI, clearly most affected, is up to $45.18 as I write with Brent tagging along up to $45.70.
Range Resources Limited 5 May 2016 The Company advises that 146,533,850 unlisted options, exercisable at £0.04 on or before 30th April 2016 and 7,058,824 unlisted options, exercisable at £0.17 on or before 30th April 2016 have expired. None of these options were exercised prior to expiration
You don,t offset interest free credit with an interest bearing loan.
Land ocean had to buy RRDSL to gain the right to drill on the island and become the sole supplier to RRL. That is why they paid so much for a pile of scrap, inc rig 8. They are just spinning rig 8 out hoping we will forget about it. hence the dropping of the q&a as the true business model gets exposed.
The fact that you don,t see it is not my problem or pocket
I just wonder where Oma got his degrees in Accountancy and Business Management. Reading his comments below I cannot believe he has a degree in either and his English has too many mistakes to reflect a good education. In fact I would hazard a guess that he is very much like Peter Landau in the BS department.
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