Member Info for Coldjoe

Well US stocks seem to live in their little world within a bubble but European indexes still quite hammered, hope that there won’t be another massive sell off but what do I know...

Doubt that any of us will hold that long anyway mate...but interesting article here for you

https://www.google.co.uk/amp/s/www.bbc.co.uk/news/amp/uk-scotland-scotland-business-46356965

Strange article, RRE is very upfront about their decom liabilities and AA even said they did one before so they are comfortable with them. The bit about Taqa saying in some internal emails that RRE had no idea what they bought from Marathon seems a bit far fetched too, either way market didn’t think so when it went from £8 to £22 last year on that deal

Hmm obviously the global markets and all other oilers are going down but brent still at around 30$ don’t really understand all the selling today and -8% for no reason?

Or like RRE

DGO (never heard of it) just raised money for potential acquisitions, so it seems that the right time might be approaching for one of our own! (Hopefully) https://www.malcysblog.com/2020/05/oil-price-dgo-empyrean-petromatad/

Haha well ************* are a joke-no doubt about it, but i was just wondering what AA said in the interview

Yep just wanted to ask the same thing but it seems like you have to buy a ticket, could anyone who already listened to it give us the most important/interesting info?

End year results say that unit operating costs should fall below 30$/boe so hopefully we should be making profit with the current brent price, now it’s just a case of sitting back and waiting for some deal, I reckon they won’t just leave our cash pile depreciating all year....

Strange that PMO is making continuous move up when they have almost 2bn in debt while we have 600mil decom liabilities and 330mil cash :O

Anyone “attending” the AGM? Saw on twitter that they are reviewing gas assets for purchase but it wasn’t RNSed to just wondering if AA actually said so or if it’s a rumour...

Looks like Cavendish might be buying more with those beautiful 5000 prints

Hmm i hope they buy more and stick with it to £22 and beyond hah

Fair enough, although as said before all off-shore oilers have them, yet they are our only negative argument (not counting the sad brent price atm hah)

Every offshore oiler has decommissioning liabilities mate, RRE might have more because their strategy is to acquire company cheap in exchange of taking care of them, however first ones are in 10 years and i bet none of us will be invested here so long...

Crazy times.... i guess we can forget about some new deal, just focus on surviving and then pick up the pieces from bankrupted companies

Current WTI price doesn’t mean anything, tomorrow June future contract will be out for something like $22, read some articles on it

https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/041620-interview-north-sea-producers-look-to-absorb-crisis-with-delays-not-decommissioning-rockrose-ceo

obviously the current situation is much worse and one can't compare it directly with today's crisis but it's funny to read this article mentioning the same $10 oil possibility back from 2016.....

https://www.bbc.com/news/business-35245133

Wasn’t the half a mil of oil hedge just for Q1 2020?