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fudd those figures were stated two years ago when the oil price collapsed and rig rates were down by 50%. I think more importantly Russia and SA can't increase production by a great amount and US frackers will only produce more with higher prices. The majors have curtailed new investment. We also see the US has been releasing oil from the strategic reserves for many months now. This can only lead to higher prices going forward.
RS2001 just full of it. Typical boiler room operative.
Remember this de-rampers may make you think twice about an investment and you may lose a profit, whereas rampers will lure you in, sell you their rubbish and you may lose the lot
Jaceorge, no need to get upset with Godders (besides being my mate) he is doing us a favour shaking paper hands along with his boiler room buddy, fuddstone. Whatever small time brokerage they work at, their goal is simple. Spread FUD and shake paper hands.
This entry is an absolute steal and macro movements shouldn't concern you - until we hear of news, we have to remain patient. I appreciate that is easy to say for those who have just bought in at 5p.
Buzz projected extraction costs for average deepwater field in 2025 is US$ 50/Barrel.
Wrong fuuddstone, most the remaining big oil is in deep water. Deep water is $100 oil.
Wrong again buzz extraction costs are remaining pretty constant.
The problem lies with fiscal requirements for example Saudi extraction costs are circa US$ 3/barrel but their fiscal requirement is about US$ 82,barrel, however most of the middle east oil producers are diversifying and as such their fiscal reliance on oil will fall as the diversification takes hold, lots of low hanging fruit
left.
Fuddstone, you are the one who needs to do the research. Yes there is ample oil in the world but at what cost to extract. All the cheap extractable oil has been used (low hanging fruit).
Many have lost the will to stay in RKH.
In the same way that when JP Morgan, GS start telling you $100 oil is coming they are selling to you and looking after the premium clients otherwise they would say nothing and quietly buy on their clients behalf, unfortunately it`s the same way with Sam and RKH. He’s a smart cookie though and is careful to operate within the AIM rules.
Already come to the conclusion that Sam knows RKH is a dead duck but he can’t say so and tells us he will leave ‘No stone unturned’.
OPEC which has 79% of world oil reserves has in total 1,890 billion barrels. Non OPEC countries have a combined 308.18 billion barrels, so where is the shortage.
Furthermore if everyone thinks there will be $100 plus oil why is no one buying into Sea Lion and the NF basin?
Crude usage is currently 35.5 billion barrels per annum so there is currently 62years supply.
Plus new technologies will replace Crude as we transition away from fossil fuel.
When GS, JP Morgan etc start telling you $100 oil is coming they are selling to you and looking after the premium clients otherwise they would say nothing and quietly buy on their clients behalf, unfortunately it`s the way of the world .
Believe what you like buzz but try doing a little independent research .
Hay Buzz ... I totally agree and have been saying that a serious supply shock is just a couple of years down the road and oil will be $100+ for some time.
Unfortunately and like many on here, I have lost the will to live when it comes to someone coming along with the means and capability to develop Sealion.
Try doing a little research instead of the spoon fed rubbish you post......
According to the U.S. Energy Information Administration's (EIA) International Energy Outlook 2019 (IEO2019), the global supply of crude oil, other liquid hydrocarbons, and biofuels is expected to be adequate to meet the world's demand for liquid fuels through 2050.9
You obvioulsy didn't read the article. Oil will skyrocket well past $100 when OPEC can no longer keep up with demand, estimated in a few years time. (Perfect for Sealion)
OPEC to increase production and help to alleviate shortages , there will be no $100 oil .
When GS et al are telling the world of $100 ,you can bet they are selling to the market .