yes it's an optimistic take but not as optimistic as your strawman reading of it. All I said was that restrictions will be eased off (not completely gone). No government is going to hand you back you your freedoms. There will always a panademic threat to keep them on the books and to remind you from time to time. I'm very pessimistic on that front.
Germany's lockdown is similar but not the same as the police state we have here. They are more focused on social distancing. It's a federal republic, some states more stricter than others.
Sweden has no lockdown and have no plans to do so other than social distancing. That's the latest from their PM.
Italy are over the worst and are looking at phase 2 where restrictions will be eased.
I think their health minister said it right that they will need to "live with the virus" or words to that effect.
In other words we'll have to live with the deaths in order to keep economy going ... can't stay at home forever.
3 shallow wells can produce as much as a deep well at only half the cost and just 90 days to drill if they use all 3 rigs.
Oil deal likely in the coming weeks and CV restrictions will be eased off globally.
Looks like Italy are over the hill and Germany and Sweden won't lockdown at all.
We could have avoided the lockdown but the NHS was already broken, over worked and under resourced before covid.
Just PI selling to jump in on other oilers that have been battered. If they were overweight CASP it makes sense to balance out the PF. It's that old adage, 1 bag in the hand is better that 4 bags in the bush.
That money will come back here eventually. The majors have already recovered 50% from the lows so not much upside left until covid is dealt with. CASP can do 30%-40% in a few minutes, so I'm sticking with CASP.
Trump "Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!"
one thing I learnt during this period is how analysts and journalists are just well paid (we do it for free) rampers and derampers.
obvioulsy they are more polished in their approach than we are but If you look through their timelines it's easy to see when their masters are long or short.
RightOn, Kaz has banned Russian fuel imports from tomorrow to keep the domestic market stable.
It's not in their interest to let companies like CASP go out business. I think in April you'll see CASP selling more to domestic, which is ok as I can't see them making much profit on exports.
Saudis still haven't increased output. Latest bleat from them says the will increase exports in May rather than the previous threat of April. And that's not from turning on the taps. It's from a decline in domestic consumption due to CV.
Short term there will be chaos due to lockdowns.
Long term it looks very good for oil, especially low sulphur.
Hedges won't make a difference if no one wants to buy your oil. Can RRE sell of their production?
demand will back on steriods in 3 months. We weren't hit by a meteorite. Once western democracies have the draconian powers on the books that they've be wanting since 9/11 they'll let you get back to normal.
I don't see any rich people having to wait for covid tests and TrumpPills.
These same pundits were predicting $200/bbl (some even $400) a few months ago. Their analysis seemed pretty legit back then just as the current analysis looks.
No one knows the future. But I do know today neither Russia nor KSA have turned the taps on fully.
Don't have too much knowledge on Russia, but good luck to KSA with their 70 year old oil field and busted refineries.
I've always encourged FDBK to follow in Microsoft's footsteps.
MS stepped up in response to Covid19 by offering MS Teams through Office 365 for free for 6 months. They're not stupid.
Every school and office has it now. All successful software vendors give stuff away for free and then convert their users into fee paying customers. This is the only business model that works in this industry.
5m MCAP is tiny given the potential here.
Joesoap, if keep hearing that. I don't know what Clive has been promising but according to the technical plans for MJF field development it takes 90 days to reach TD. #150 started mid-Dec so that would put TD at mid-March.
As expected they applied for flaring permission on the 16th.
On the 18th they announced they were going to perf #150. If we take 142 as a guide then we will get a flow rate in the coming days.
I can't see where the delay is.
Not long. Saudi own and influence a fair chunk of the western media ... so don't believe everything you read.
In previous wars they had a cash surplus, lower expenditure and no wars in yemen. Now they have a deficit of $50bil. Remember the $300bn defence deal with Trump.
Their non-religious tourism industry ($27bn invested) is going to be a still birth this year.
For religious tourism they've already banned visit visas and the pilgrimage (big money) in July/August looks to be in jeopardy. Not a good year there either.
Maybe Coffee is right, this is all a plan to send KSA back to the desert.