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I'd prefer that Tullow gets involved in the Springfield find. They have staff and resources already on the ground in Ghana and should have the relationships in place to get a decent deal. The largest developed field would potentially be double the size of Jubilee.
Perhaps it inches it closer to having value, but if the ground to cover is miles... again... not sure it helps. I'd like to be wrong.
shawz007,
I think my main point is the oil glut has been caused by shale and is mostly light and very light.
There is a demand for heavy. Jethro and Joe have been written off by Dorothy and the market, yet if you look at Arab Heavy ( sulphur content 2.8% ) spot price today is $64 So the Jethro and Joe Oil discoveries have a value.
Mrd well I don't want all my money in if that happens. Hope things turn better for you soon good luck.
Oh well, I don't see it as good news then that some expensive grades are more expensive. But if I'm wrong, great.
shawz007,
They don't produce any of that stuff.
Auson, Sounds good. I wasn't aware Tullow produced any of this premium $100 stuff.
On the reverse side Brent could also head back down to the $55 area, in which case what would that knock off this depressed share price 10p ? Then new CEO ( if well received ) would put 10+p back on.
Tullows kenya and Uganda stakes are worth around $2.6 billion I wish they would just sell and just continue with ghana and guyana
We are one bit of good news away to go on a uptrend. But why is it so difficult to get it
Mrd5432,
Its a moving target as the US Dollar reduces in value every year.
For $100 this year would need to block the Strats of Hormuz and more drone attacks on Aramco.
Do you remember that guy ( Pierre Andrand ) who said Oil could go to $300 ?
shaw007,
Well TLW have just discovered a lot of heavy oil
and sell more Brent grade than WTI grade oil
Not sure how that helps us though
shawz007,
Yes its got expensive because of a need for it not a want.
It was cited that some premium oil has got expensive at $100 a barrel. That oil doesn't represent the mass market.
Im not saying $100 tomorrow. Im saying its a possibility. Plenty of possibilities here. Longer we stay here longer theyl be calculating that bid at 90-100p. Sxx stayed at 3.5p then wham 5.5p
shaw007,
I'm struggling a bit with that analogy, not many people 'need' to fly to New York but everyone needs energy.
530,000 net long Oil contracts seem to think its will be going higher than $65 Brent
The ideal for Tullow is for Brent to stay in a sustainable 65-75 range, that allows it comfortable free cash flow while not providing succor to US frackers.
Bit like saying you can go out and buy a private jet to get you to New York. You can, and maybe those prices are up, but that doesn't change the price of a cheap economy ticket on a cut price airline that represent the real bulk market for flying to New York. Sadly no $100 oil soon. But we don't need it.
Is Oil going to $100 a barrel ?
https://oilprice.com/Energy/Oil-Prices/Is-Iran-Preparing-To-Send-Oil-Back-To-100.html
Cargo of Oil sold for close to $100 a barrel.
https://oilprice.com/Energy/Oil-Prices/The-Worlds-Most-Expensive-Oil-Nears-100-Per-Barrel.html
Hundreds of shares will be on the move up or a down a bit today and for each company there's no discernable news.
Just about to say hopefully pre recession oil hits $100 tullow hits 150p gives me a chance to exit
Trump now controls the FED, QE ( not QE ) 4, whatever it takes and the plunge protection team.
Historically most recessions are preceded by a huge oil price rise.
I still think there will be and got no choice but to ride it out
Mrd do you now think that there won't be a world recession in 2020?