Member Info for Coldjoe

https://oilprice.com/Energy/Energy-General/Oil-Companies-Forced-To-Renegotiate-Deals-Or-Risk-Losing-It-All.html

Anyone knows when are first drills on Arran due ?

Well I suppose most of the oilers are not moving much, RRE went from £20 to £9 on oil price tumble and £9-£5 on covid, which i find ridiculous but if you did it better than me and have average below £6 then RRE price action would certainly not be disappointing

Could the reason for us being so cheap and not moving up that our business model of acquiring businesses for a good deal in exchange for taking care of the decommissioning is suddenly not that lucrative with current oil price? Iam long term holder so don’t shoot:D

Would be noice, meanwhile ******s are selling every day without any reason

At least it creates volume and flushes people out but where is the logic

You have to love the market, brent yesterday +5% RRE +1%, today brent -5% RRE -8% :D jesus...

Maybe we need some debt for market to notice us hah

https://www.google.co.uk/amp/s/mobile.reuters.com/article/amp/idUSKBN22X0ID

well we are still more than 50% down just on our cash and with current brent price making a profit but I guess anything is possible, I guess people would rather buy hyped covid pharmas

so when brent was falling and RRE with it, it wasn't priced in but now that brent is rising (nobody expected it so soon) it's already priced in? Cool logic

Howcome the oil is another 5% up today but almost all the oilers are not responding?

Yep endless selling... maybe it’s because it dropped all the way to under £5 for no reason so a lot of people are in profit, it will go up eventually though

I believe we are comfortably in profit with current prices and growing our war chest everyday so now just sit back, relax, don’t sell for every 4% increase and wait for the next deal, what’s not to like?

DGO is also making new acquisitions for about $200 million, hopefully ours is approaching too :)

Btw any1 knows if the first drill in Arran is underway or if they are just laying down the pipes to Shearwater at the moment?

Still at steady 35$ brent I would expect at least £1250 here

Well tlw, enq and pmo all have huge debts, we are in completely different position and at $32 brent nicely profitable I assume

It would be interesting if we bought Andrew and Shearwater from Bp when Premier finally acknowledges that they cannot afford it, although some nice gas asset would certainly be more suitable

Brent looks pretty good, hopefully it will hold next week and we will move up when market believes it... still hope for some deal soon even if it’s not anything massive, $100mil deal would do haha