RE: Easy to sell they want your shares03 Apr 2020 12:53
you could ask our very clever friend, he's quite handy with the fibs these days ... tho he is understandably busy with work at the moment. I agree we should end back up there ... given joke of a price anywhere near these levels.
Exclusive: Russia calls for new enlarged OPEC deal to tackle oil demand collapse27 Mar 2020 12:08
MARCH 27, 2020 / 8:53 AM / UPDATED 3 HOURS AGO
MOSCOW (Reuters) - A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia’s sovereign wealth fund said, adding that countries should also cooperate to cushion the economic fallout from coronavirus.
You have to DYOR work out what our actual oil output is (less the gas) ... then work out what it will cost if that oil is sold at, say for example, an average of $3 loss per barrel... even for an entire year.
You may be very very surprised at how small that number is in the general scheme of things.
We have around $300m unrestricted cash.
Capex is adjustable.
Was it Buffet that said... "the cure for $25 oil is $25 oil" ?
I believe Soberman sold out on the way down... some in the teens as he mentioned selling some at the time. As much as he consistently demonstrated what an unpleasant character he is, at least he has had the decency not to be posting since being out... unlike some low life script flippers.