Member Info for chilting

Hello 121 If that is the case, why go to all of the trouble of pushing POO back as low as it can safely go to the June 2017 rising high - WTI $64 Brent $73. I think that now that they have pushed it back, they will use the excuse that minimal expansion of production is needed to balance the price - any larger increase would risk pushing POO much lower. They may even just agree to cover any shortfall from Iran and Venezuela

Yes, totally agree - especially with the Aramco IPO coming up for the Saudi's and I guess the Russians just want POO as high as it will go and then some more !!!

I think that may be a little optimistic Kraken - it seems that OPEC members cannot agree on the level of the increase, so maybe they will have to thrash things out at their meeting. Although it is Saudi and the Russians who want the biggest increase so if they change their position things could happen very quickly as you say !!!

POO will bounce very strongly from this point but it is just a question of if it does it before or after the OPEC meeting. I think O{EC have engineered this fall to give themselves a clean sheet re production levels - their comments over the last few weeks have been contradictory but largely negative for POO. POO would have fallen to this level on Wednesday if the EIA figures hadn't shown a big draw - then Trump pushed it over the edge on Friday. As for ENQ I think this is excellent timing for a change - the SP will rise strongly on the POO bounce especially if AK's final commissioning is announced at exactly the right moment.

Personally I think WTI will fall to about $64 before it bounces maybe next week or even after the OPEC meeting. $64 is on the line up from the June 2017 low and should give good support id POO lingers in the doldrums - a fall below $64 would be very bad news. I notice Brent has fallen more than WTI and is also close to the rising line from the June 2017 low.

Well done Jan - its down 3

I know you have to be careful on a public forum so I will be - If you were a certain person who's decisions affected all the other 7.6 billion people on the globe and you decided that you wanted to short certain companies/ commodities/ currencies would you not have a certain advantage ???

The Alliance News take on Moody's upgrade of ENQ - www.lse.co.uk/AllNews.asp?code=9adyv30i&headline=Moodys_Upgrades_EnQuest_Corporate_Rating_To_B3_With_Stable_Outlook

Let the combat commence !!!!

There is a wonderful mistake on Marine Traffic - MO will love this !!! https://www.marinetraffic.com/en/ais/details/ships/shipid:706795/mmsi:533000241/imo:7351812/vessel:FPSO_KIKEH

Hello Burton Euroclear only publish their data on a monthly basis so it is just historical data - we will know the June figures in early July. There are no large holdings of shorts over 0.5% in Ceres as they would be listed on the Castellain Capital daily listing.

I think that to commit to the upgrade Moody's must have a clear insight into the final commissioning of AK and I think therefore that we can assume that final commissioning is just weeks or even days away.

I have no problem with PMO doing well it simply proves that when all the numbers hit the balance sheet ENQ will follow - the potential is there, it simply needs to be proved.

At least POO is looking much better today - hopefully it will pull us up this afternoon.

US President Trump to meet with top trade advisers on Thursday on decision whether to proceed with tariffs on Chinese goods

One thing is for sure ENQ wont be ready to accept final commissioning until everything is 100% correct - even if it takes the rest of the summer.

Re the commissioning - It is up to ENQ to accept AK commissioning as complete. It should be noted that the Bumi forecast for Olombendo slipped by a couple of months. Bumi are at a fairly low ebb at the moment and certainly need AK to maintain profitability.

Squif On the subject of updates I think the shorts should be very wary at the moment. We could get conformation that AK has been fully commissioned any day now. In fact she may already have been commissioned and ENQ and Bumi are waiting for a good time to make the announcement - AK's sister ship Armada Olombendo was commissioned a full 2 weeks before the announcement was made.

Hello MO That certainly sounds promising - it certainly isn't a case of throwing good money after bad. Thank you.

Hello MO So Alma still has a lot of untapped reserves mainly because ENQ had to give priority to getting Kraken up and running. So we can now expect that the new wells and the maintenance currently underway will make a substantial difference to output over the coming months. I gather from comments I have read that Enquest Producer hasn't lived up to expectations. Can we be as optimistic as saying that maybe that is about to change ???