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So you knew about coronavirus before ? Lol
Isn’t it sad that you have to throw out abuse for a contrary view.
Bet those spiked at 2200p are loving this share.
That’s why they are sending oil to Rotterdam...it’s all a game to them...already rig counts are falling in US and they are winning the oil war with Russia..oil won’t be this low at end of year
https://www.hellenicshippingnews.com/saudi-aramco-boosts-european-crude-inventories-in-bid-to-gain-market-share/
Read this article last night....explains why Louisiana light dropped to around $15… I think the USA will have to regulate oil production after this but that will take policy changes which will take time to get through the houses...but until then who knows what will happen but I’m sure rre will be in a stronger position after this.
https://www.bloomberg.com/news/articles/2020-03-28/pipelines-ask-u-s-oil-drillers-to-curb-output-as-tanks-fill-up
Yes lambo, I'm selling up as soon as the Mkt opens, thanks for that gem.
Anotherloser, what exactly is the point in your post if you have no interest in RRE? Cash certainly is king and we have £270M of it.
With the oil price so low at the moment, looks like this is a no go for a while. Best to avoid, cash is definitely king right now in the Oiler’s market
Yeah Bloomberg with all scaremongering articles today:
In physical oil markets, barrels are already changing hands for less than $10.
Not sure how low they want oil to go
Yes Ammu, around $17 bpd, just surprised that RRE mcap is 3 almost 3 times below cash value, even half cash value would assume the poo price is stuck here for more than a year and would still only give a mcap of £124 mill V todays £85 Mill
Could be to do with HUR opex which I think is very low if I am not wrong however yeah rre is very undervalued. Just need to poo to behave
Interesting.
RockRose Energy (RRE) issued an operations update. Cash at close of business on 25 March 2020 was £287 million, of which £248 million was unrestricted. They anticipate unit operating costs of around $30 per barrel of oil equivalent in 2020 and at least $50 million capital expenditure will be deferred. Current market capitalisation is £85 million.
Hurricane Energy (HUR) reconfirmed that it has a strong balance sheet, including $164.3 million of unrestricted cash at 18 March 2020 Their current market capitalisation is £213 million.