Member Info for Auson

'Exxon Mobil Corporation XOM forecasts that global crude oil demand will remain robust, exceeding 100 million barrels per day (bpd) through 2050, per a Reuters report.

This outlook, significantly higher than BP plc's BP projection, underscores ExxonMobil’s aggressive production strategy, distinguishing it from its European counterparts. ExxonMobil, the largest U.S. oil company, revealed its latest global oil outlook, marking a substantial increase from BP's more conservative estimates.'

Spights,

Don't look now but Brent is just a gnats whisker off $79 !

Buffa,

The geo-risks you mention would result in a massive Brent spike. Its likely something will kick off in the middle east and equally likely Iran will block the Straits. Hence why it doesn't hurt to have some exposure to oil, just as having some exposure to Gold has worked out quite nicely over the last few years.

I firmly believe this Brent pull back is mostly based on Israel peace talk rumours- reversing the geo-risk traders positions.

Kularatnam,

SMS has said on a few occasions now, with guidance the aim is very much to under promise and over deliver. Especially after the late accounting debacle and how the market punished SFOR for this !

Robina,

Your target price was 6p wasn't it ?

We have had some 40,000 block share selling over he past few days. Looks like part of a concerted effort to keep the SP down.

Simonhesays,

Or they are working in concert with a possible buyer.

Tullow up 6.5% in the last 5 days

Superritch,

40 representations ! Does the gate have iron eagles and swastikas on the gate posts ?

1msn,

The cost to borrow on Fintel did drop yesterday fom 1.51% to 1.25% where it remains today. I take this as meaning less stock is out on loan today vs yesterday morning, meaning some shorts could have closed.

Harty1986,

Its a sound investment strategy, you add on the way down and reduce on the way back up.

There is always another opportunity to be had somewhere in the markets.

Hopefully 81p isn't that far away.

Spights,

Thats WTI price $79 right ? So they better hurry up as its currently over $78. I believe they also try to get a small discount for some reason or other. Since shale and the increase in US production I guess they are a bit more laid back about the 'Strategic' nature of the SPR. If the sh-t hits the fan they could ramp up production before SPR gets drained dry.

JMAX,

Intriguing are we talking Bill Gates, the WEF or the Illuminati ?

Aiminvestors,

I think you could be right, the stock is so unloved that FID on a 1.7 Billion barrel oil field won't affect the penny share price !

The Strait of Hormuz is a narrow strip of water that links the Persian Gulf to the rest of the world.

It’s the world’s single-most important energy corridor, and there’s no alternative route.

If someone were to disrupt the Strait, it would cause immediate global economic chaos as energy prices skyrocket.

Thanks to its commanding geography and expertise in unconventional and asymmetric warfare, Iran can shut down the Strait, and there’s not much anyone can do about it.

It’s Iran’s geopolitical trump card.

www zerohedge com/energy/one-step-away-biggest-oil-shock-history

Ok but 56.7 Barrels is completely meaningless

JMAX,

Oh I see you were trying to say kbopd or kboepd, how very quaint.

OscarindiaLima,

I just had a hunch who Squid might have been, the GT3 comment was just a test balloon.

JMAX,

What exactly is 56.7 BoO ?

DampSquid1,

GT3 fund ?