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Cheers yourselves up by reading an article on oil price.com about US production grinding to a halt & tsunami of debt due in the next couple of years.

Of course flip flop trump will turn a blind eye, like his choosing to ignore little Kim’s rocket provocations.

Also Kraken, if Bp, Chevron, Exxon are all doubling down on their shale presence, I would argue their is a strong business case for it. (Unfortunately).

Also Kraken, if Bp, Chevron, Exxon are all doubling down on their shale presence, I would argue their is a strong business case for it. (Unfortunately).

Are the any tax experts, who can explain how much they are worth. I’m assuming you can offset the credit against pre tax profit & not pay any tax, until they have been used up, but I think that’s too simple..

It’s not always possible to launch an ipo when macro conditions are ideal, but in the lead up to the flotation, the Saudis will do whatever they can to guarantee maximum price for this strategic asset. Simply put they will lever the highest possible crude prices. They are cunning devils & however they achieve their plan, the spinoff should be great for the pmo sp.

Lowdown, I think your correct in saying ‘tends to ‘ as we know shalers are unfortunately getting more & more productive from existing infrastructure , so rig count now not so relevant, but a reduction is still a reduction.

Only just clocking in anyone have any theories on why crude has dropped ?

Mrd, good timing, much better bet than sxx....

Mrpaul, if had known now about all that’s since transpired, Trump , China, Brexit, shale etc, of course I would have loved to have traded at the highs & lows, but that ain’t the real world. I have a sizeable holding here & in other oilies & have been topping up on the lows, I don’t profess to be a day trader like others, but try to buy cheap & hold on the fundamentals. IMO you’ll do great holding onto PMO .

Only joking, I am happy to stay long for as long as it takes. Yawn.

Krakeoil, as soon DBNO goes long, I’m getting out of PMO, he/she or it to date has demonstrated total cluelessness .

Gab Thanks for posting the survey

Romaron, just for balance, although I hope I’m wrong, the economics of shale for the big producers are better than I think you allude too. If it was uneconomic the Exxon’s, chevrons, BP’s wouldn’t be investing in it. The Times, as you probably know, has published a series on the shale basins, in it one of the figures that stands out is the much lower stated breakeven in the 30’s USD pb. I think the tax environment is also very friendly.
Ok the oil maybe very light etc, but I think shale is & will continue to constrain prices.

Still DBNO if you’d gone long on PMO when it was in 60’s you would have left KAZ for dust.

PMO riskier to short since update. Zama could drop at anytime & SeaLion may need less capital, (if structured like Tolmount). I think the message is sinking in.

SK, whilst parliament is tied up with Brexit, at least their not meddling & screwing up other stuff. Most of the time we live with a faux democracy, but at least we can kick em out, but usually replaced by another load of self promoting clones.

Hope your right, We’ll soon find out.

Emerald, good to see your back, if you ever went away.. why do you think Brent’s going to 70. ? or just gut feeling.

If we knew that Bulent, do you think we’d be posting, .. IMO prediction of short term prices is one for the mugs & why most day traders lose.