George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Is yet ANONTHER placing a 100% certainty? I supect it is and they might not get it in these market conditions. Could be lights out. Oh yea, what ever happened to the company making covid detector?! LOL
Oil has bottomed chaps(Or very close). Russia and co have plans for the west and it doesn’t include cheap Oil in the near future. All this PR makes me wonder if some big boys have sufficiently positioned themselves for an upwards move here. First stop would be 35-40p , all IMO
I believe Oil has bottomed (or close to it) and this price is an absolute gift. Majid needs to step it up in 2023 , been a poor year for him in terms of the way he is communicating to the market. If a share stays undervalued for a long time it's because the market thinks management is below par.
I still think Eric Nuttal and friends will be proven correct but this pull back has been so severe and unforseen we have to now consider there is something they/we have missed and $40-60 oil is once more a possibility. I'm still holding on and optimistic but feeling a bit foolish for putting myself in an echo chamber, only listening to oil bulls (like nuttal) which stopped me from selling a few at 30p+
I think current oil prices mean that there will be no increase in the Divi and Majid will be cautious with budget similar to last year. I'm not getting my hopes up for anything exciting and think will be next year when we rocket to 40p+ and beyond. With Warren Buffet going so big on Oil i feel very relaxed here. The big boys know whats up!.... $150 oil is coming and £1+ here just need to hold on for a couple more years.
I recommend listening to Daniel Dicker's Oil Analysis on Youtube. Basically, USA are successfuly manipulating Oil prices down and made nice profit selling SPR at 100$+ and will get to buy it back lower then what they sold it for so fair play to them. Most bullish oil set up he seen in 40 years, eventually fundamentals wins and next year oil goes $100+ again.
Interestingly there is now a disconnect between the big oil stocks (shell,exxon,chevron etc.) and price of oil which are still trading at their highs (of this cycle) even though oil has crashed down a fair bit. Makes me wonder if the big boys are loading up on oil stocks beacuse they know what's going to happen over coming years. Warren Buffet for example is balls deep in oil right now and might even end up taking over Occidental Petroleum(60 billion mcap)completely and also built big stake in Chevron. So basically, might be a few more rough months to weather and then we go to the moon unless Majid F's it up somehow!
youtube.com/watch?v=lIHoMiYC1nA&t=1s&ab_channel=YahooFinance
youtube.com/watch?v=9CreYhJTN2A&t=2s&ab_channel=YahooFinance
emptyend - Share price strength more to do with Mr.Radoff building a stake then buybacks IMO. Once he has built his stake(usually around 10%)Jann and co better start performing or they may be in for some bother to say the least!!
Between this and Opec+ cuts we now have a remarkably solid floor under Oil prices going forward. The NS duster unfortunatley killed the excitement so most likley now just a slow long grind higher taking multiple years to playout.
"President Biden announced that the Administration “intends to repurchase crude oil for the SPR when prices are at or below about $67-$72 per barrel, adding to global demand when prices are around that range.”
At Marten Hills, i3 has completed drilling 4 gross (2.0 net), eight-leg multilaterals in the Clearwater formation. The eight-leg multilaterals had an average total lateral length of approximately 12,000m, with each well encountering excellent oil-stained reservoir demonstrating up to 30% porosity. The wells have all finished recovering load fluid and are exhibiting strong initial rates. The wells on the pad have averaged approximately 214 bbl/d, with a 4% water cut on the initial seven days of production; these rates are materially outperforming the Company's internal type-well forecasts. With the drilling of these wells, i3 has completed the initial 6 well (3.0 net) earning phase of the Company's Clearwater farm-in. i3 has further elected to drill an additional 2 gross (1.0 net) earning wells, to be spud by 31 March 2023, which will earn an additional 13 sections along the prolific Clearwater trend.
i3 continues to explore potential opportunities for enhanced exposure to this top-tier play and is eager to accelerate potential exploration and development opportunities across its extensive Clearwater position.
The Company has drilled 20 gross wells as part of its expanded 2022 drilling programme. Of these wells 13 are on production, 5 are being cleaned up following tie in and 2 await completion. The latter 7 wells are expected to be fully cleaned up and on production in late October.
Clearwater Land Expansion
i3 has been focussed on expanding its Clearwater position since the Company's initial entrance into the play through the acquisition of Toscana Energy Income Corporation ("Toscana") in early 2020. The Company is pleased to announce that it has successfully increased its Clearwater land position by approximately 20%, to 94 net sections (241 km2), through a series of strategic, complementary transactions. These acquisitions, including successful bids at Alberta Crown Land Sales, joint ventures, farm-in agreements and partner consolidation, have increased the Company's exposure approximately 90% from the 50 net sections (128 km2) acquired as part of the Toscana acquisition.