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Falkland Oil & Gas Share Chat (FOGL)



Share Price: 22.00Bid: 21.50Ask: 22.00Change: 0.00 (0.00%)No Movement on Falkland O&g
Spread: 0.50Spread as %: 2.33%Open: 22.00High: 22.00Low: 21.50Yesterday’s Close: 22.00


Share Discussion for Falkland O&g (FOGL)


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Islayman
Posts: 47
Off Topic
Opinion:No Opinion
Price:28.00
yuan
26 Jun '15
Many thanks to all, especially eegbvi, for informative answers. Question is now will China boom and should we be investing in Chinese stocks or through a fund?!! Or is it best just to watch for the moment? In the meantime, fingers crossed that Humpback comes in and gives FOGL a boost. Where do we after Humpy?
 
cookiecrew
Posts: 8,317
Off Topic
Opinion:No Opinion
Price:28.00
eegbvi
26 Jun '15
The price of oil will rise,there's a nice article on crnd this morning regarding China hoarding gold ,worth a read ,the dollar will weaken there's an agenda me thinks by China
Genghis15
Posts: 1,424
Off Topic
Opinion:No Opinion
Price:28.00
View Thread (3)
RE: The yuan
26 Jun '15
I should qualify that as eegbvi points out there are contracts priced in yuan already,. My knowledge of the oil market is not encyclopaedic but I imagine contracts exist priced in all sorts of other currencies as well.

But the majority still trade in $$$s, or make some reference to it. And the benchmarks are still set in the spot and forward markets in $s, that's where the liquidity is and where the hedgies and traders operate.

As eegbvi again points out, the Saudis have influence in how they choose to price their oil, but I don't see them wanting to upset Uncle Sam too much. Thy live in a dangerous neighbourhood, and I don't see China stepping in there to defend any oilfields.

You never know, and things can change quickly, but it's not one of the significant risks for a Falklands oilie, imho.
Worry first about drilling, funding, and the Argies potential for some sort of buggeration factor.
bfc1
Posts: 23
Off Topic
Opinion:No Opinion
Price:28.00
no trades
26 Jun '15
Its 8.37am and not one trade!!
eegbvi
Posts: 3,062
Off Topic
Opinion:No Opinion
Price:28.00
Islayman
25 Jun '15
Forgot to add that as the dollar declines the
dollar oil price should rise inversely. $100/110
perhaps, but FI producers have plenty of time to decide what currency they want in
their sales contracts.
eegbvi
Posts: 3,062
Off Topic
Opinion:No Opinion
Price:28.00
Islayman
25 Jun '15
It started last week with Gazprom & Rosneft
already issuing oil and gas contracts in Yuan
and Euros. If OPEC follows suit after the IMF
Meeting in Oct the dollar will be in deep
trouble probably a slow but constant decline
as up to $6 trillion is unwound. As China holds a lot of US Treasuries this will take a
little time since China would hurt itself in
premature dumping of US Treasuries which
are used to pay for OPEC oil. I assume the
Chinese will slowly run their holdings down
against oil imports, but then replace the dollars with some Euros and the rest in Yuan.
The new Chinese International bank will
start functioning in September which is why
UK, EU, Russia, Canada plus Australia and
several Asian countries have already agreed
Yuan swaps despite US objections. Qatar
also recently joined so now the Chinese at
least have a foothold in OPEC. US is still
trying over the summer to persuade Saudi
and the other Gulf States to stick with the
dollar but with Obama cozying up to Iran it
will be more difficult. Indeed Saudi is now
talking to Israel which was previously
unthinkable with the plan to tackle Iran. As to
the dollar, should the worst happen the US
will be forced to really hike interest rates to
entice dollar holders to retain dollars. Perhaps over months to 5% or 6% pa. The
danger then is that UK and EU follow suit in
order to bring some order into the exchange
rate, probably from early 2016. Should that happen in UK the FTSE will lose 100 - 150
points and the DOW/NASDAQ lose 15%.
The UK housing market will take a hit most
likely with s lot of the buy to let properties
being unsustainable. Let's hope it doesn't
happen. As to 88E it will produce for the
US domestic market probably with payment
in dollars so its merely its AU$ financial
reporting that takes a hit maybe. But if it
exports it can choose a Yuan or Euro
contract should it wish as this would mitigate
any exchange losses. Hope that helps
Islayman
Posts: 47
Off Topic
Opinion:No Opinion
Price:28.00
yuan
25 Jun '15
Ta much Ghenghis15, All thoughts welcome. As I say, I've noticed differing opinion on various sites and it's always good to hear from someone with a finance background. Dunno about you, but although I'm in this for the long haul, it would be good to hear Humpback is a success and we might at last see some sort of spike here, even if it's only to encourage the troops! Roll on Aug/Sept and some possible good news, although I'm not allowing myself to think it's a game changer. Would a big oil firm be interested either in buying what we already have or even take us over?
Genghis15
Posts: 1,424
Off Topic
Opinion:No Opinion
Price:28.00
View Thread (3)
RE: The yuan
25 Jun '15
Iman, I won't claim to be an expert, but I did spend a working lifetime in finance, tho not oil or currency related. But I did have to take an interest in such things, and in my experience these changes take decades.

I don't see too many central banks, or even hedgies, rushing to stash away the yuan even if it becomes freely traded. 30 years ago the talk was of the DM or yen replacing the $, still not happened.

You never know what the future brings but if oil starts being priced in yuan rather than dollars in the next 20 years I'll be amazed.
Islayman
Posts: 47
Off Topic
Opinion:No Opinion
Price:28.00
View Thread (3)
The yuan
25 Jun '15
Hi folks...another daft laddie question from north of the border which I hope you oil guys might be able to answer and I turn to eegbvl in particular. I've been doing some research into the possibility of the yuan becoming a reserve currency if the IMF decide so in October. What would happen to oil stocks such as FOGL if it became a major player and oil is traded in the yuan? I know the dollar would suffer and could lead to billions being dumped if OPEC agrees. However, I am finding conflicting theories from 'ex perts' and I wondered if it would also affect 88e, where I have shoved a few bob. All thoughts greatly appreciated, as always!
BondiMike
Posts: 56
Observation
Opinion:Buy
Price:28.00
Explorer finds oil
25 Jun '15
They have done what they said they would do .we are just waitng for details.If the next drill comes in
They will start getting the cheque books out we would have been happy with one stike a fews years back. Its only a matter of time.They have a good idea whats out there. Good luck every one.





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