Member Info for AlfaMale

Seems to be bouncing off the $42.90 (CFDs) level today...

Yes, I heard that one too - made me laugh!

I particularly like the conspiracy nuts that think 5G is causing Corona, although anything that brings down a few 5G mobile masts is no bad thing in my book.

So called 'experts' from the TV...

They reckon any vaccine will have a limited lifespan of effectiveness anyway, so...?

lol Dodger.

Saw Trump briefly yesterday, and instead of calling it the Corona virus, he called it the Chinese virus ... just to rub it in!

It was 39p the other day!

Ferret, yes, it's not looking good on the Covid front. You're right that it will get worse, as there will be a lag between the increasing infections and the associated deaths, some weeks later - so that news is yet to come, and the markets will need to digest/react.

Opec increasing production come August could rattle the oil market.

Have a look at a daily view oil chart (Brent or WTI) from May until now. Look at that curve, particularly the top of it which looks like it is flattening out. Will it continue like that, or take a swift change of direction? IMO the only thing that will send it upwards is an increase in demand, but given all the rising Covids lately, I don't see that happening any time soon.

For PMO, rights issue is a ball and chain at the moment - don't think I'd want to be holding on the day that is announced. Further out, production numbers look like they will be rather good in the coming 12 months with Solan(!!!) and Tolmount additions. I'm not convinced about any bid rumours, as there would be plenty of people in the know, and so much more SP action, which we haven't seen, but never say never.

Ferret,

What has happened to your gloomy position on the world economy and rising Covids? You've barely mentioned this since going long lol.

US daily Covid rate now up at 77,000, the highest yet!

https://www.theguardian.com/world/2020/jul/17/global-report-us-democrats-urged-to-skip-convention-as-covid-19-cases-surge

A view on oil:

https://www.rigzone.com/news/oil_market_fundamentals_remain_precarious-17-jul-2020-162748-article/?utm_source=GLOBAL_ENG&utm_medium=SM_TW&utm_campaign=FANS

"I so want to believe that Rookie"

Yes, only because you are now holding a long position!

LOL

https://www.zerohedge.com/geopolitical/chinese-military-exercises-threaten-invade-taiwan

A spat between China & US could soon put a rocket under the oil price. One to watch .

OPEC fears second virus wave to prolong oil inventory overhang

https://www.reuters.com/article/us-oil-opec-exclusive/exclusive-opec-fears-second-virus-wave-to-prolong-oil-inventory-overhang-idUSKCN24H1SW

You might right about higher future prices, but as we know there is also high economic risk on the horizon. Let's come back to this in a couple of years and see how it panned out!

They can, but it would depend on the future price curve as to whether anyone would buy a hedge now at those prices.

Looking at this:
https://www.cmegroup.com/trading/energy/crude-oil/brent-crude-oil-last-day.html

Would seem that the futures price at end 2022 is trading at only $48.

Unlikely someone would opt to pay up to the price you suggested originally.

Yes, I guess I haven't looked at the futures prices to see if that makes sense...

"PMO could also hedge 17,000 boepd @ price $50/55 for 2 years."

Eh?

Who is going to pay up to $55 per barrel when the Brent price is currently only $43?

I would suggest that the short term movement here is more dependent on oil price, and given that Opec have decided to increase production, oil could pull back a bit.

You mean you didn't take your profit??!!

Looks like yesterday 4.25pm might have been the right time to collect profit, that way no risk from the TU this morning.

Share prices generally don't drop on such a rumour, as PMO proceeded to do shortly after!

Sudden oil price rise has helped this, and TLW, but looks like something juicy in the TU tomorrow.

Tarth, SP has fallen some 20%+ here recently, from a high of 54 to today at 41p, during the time the bid rumour was circulated.

Any bid, unless it is 100p+ should be rejected by shareholders.