Member Info for eegbvi

The only OPEC members that matter to Saudi are GCC members Saudi, Kuwait, UAE, plus to some extent Qatar and since they collectively control 60% of OPEC oil output the others can shout as much as they like but that's it. Oman is also in GCC but not an OPEC member since Shell controls Oman oil production. Why don't you do some research prior to blindly repeating press hacks who often know little about it all. I'm not in any way defending Saudi or OPEC by the way but I just wish the press did some proper research prior to firing off. This is all about the survival of the Al Saud family plus Saudi itself and I'm their eyes even Islam. OK neither of us may agree with that but its preferable to ISIS and the mess that Bush & Blair left in Iraq.

Seems you read too much US press. Saudi now has two US refineries and is looking at more so they will eventually process more US shale oil. They have also increased crude exports to US at the expense of US shale oil. They are now concentrating on undercutting Russian supplies to Europe with Saudi blend at about $38-39 per bbl. They have already taken a chunk of Chinese business from Russia. But OPEC isn't going to say that. Also they want to cut down Iraqi production since that and Russia are the main problems.

No its fixed read the announcement.

Plus they have $5mln due from RKH/PMO and maybe some valid insurance claims, which even NBL acknowledge.

Not much likely to happen except that Saudis may get a face saving formula to start cutting probably Q2 2016. Saudi exports to USA are up plus they are buying into more US refineries. Watch the EIA numbers today plus the payrolls on Friday. If they're not good the Fed is stymied re the mooted rate rise so the Dollar starts to fall so oil stabiliises further. See what happens next. Just thoughts

The only way this may not happen is if Isobel is a duster next time, but if its proven then the MMs will have a problem holding FOGL down against RKH. Now you can all place your bets !! But I think it will happen either way. Just remember though that Isobel 2 is PMO drilling and RKH the well experts and even without that step-out well PMO/RKH are still saying there is 400mm bbls of which FOGL has 40%. RKH is paying £57mln for that in shares or 30p per bbl which is less than the $0.66 per bbl often mentioned here. Do you seriously think RKH will finally say NO !! I don't think so Gamblers place your bets. !!

Don't quite think its the blind leading the blind. RKH so far has been fairly astute. But I hope they don't go mad in Croatia.

Buy FOGL yes but sell and then buy RKH no.

Agreed there's no rush to buy. NFB is ok at $50 re Brent as production cost should be about $40.But if you want to wait for $90 that is your choice. My point was simply its useless to swap FOGL for RKH in the market due to the costs.

If you sell FOGL to buy RKH at present you lose the market wins due to costs. Best is to simply buy FOGL and wait for the merger unless of course you think it may not go through. Just a thought !!

I actually said $0.75-1.50 per bbl in the oil industry.

Is being driven purely by the RKH price just now which itself is being driven by UBS and some of its clients shorting RKH (see RKH RNS) probably until OPEC is out of the way, Fed int also, and RKH EGM re 160 mln new shares all of which takes us to 14/15 Dec. As to the FOGL BoD mistake that was a year or so back when it was an honest misreading of Humpy 3D etc. (NBL also) which begs the question of how accurate was the 3D. I'm not defending the BoD by the way.

Would take about three months to clear it if there's a meaningful production cut of about 1mln bpd across the board, but will Russia cut also is the question. We may know about mid December if Putin agrees to meet OPEC

As FI is a UK Dependency the UK 1948 Companies Act applies. Therefore FI formal merger approval will be automatic shortly after the UK High Court Approval around mid January 2016. Fortunately this should be after PMO releases Isobel information if only for its own shareholders. Meanwhile on 14 December 2015 FKH shareholders vote purely on the issue of 160 mln new shares. RKH should be able to also issue a futher 10% in need without another EGM just in case there's s higher bid or post Isobel renegotiation.

How can it. ?? Its got assets. This is all the OPEC Meeting plus until 14 Dec we don't know if RKH can issue the shares. They will though as they would have already counted the votes in favour before agreeing the deal.

At the present bid/offer difference re FOGL & RKH the small amount gained in shares is more than offset by dealing costs so as usual the market wins.

The odd thing here is RKH following FOGL down rather than the other way around. Must be FOGL holders selling out to buy RKH on the cheap.

Because 10% was agreed

Its supposed to be 10%. Ocean probably still haggling re ER claims

Yes the more robust well design being used will take the well from a likely 30 days to 40 days or so about the end of the year I think. Does your pet investment fund include any uranium producers. ?? I ask as when Japan restarts its reactors on 31 Jan 2016 nuclear will be well back on the agenda. China is reported to be considering up to 1,000 new reactors plus India about 200. The problem is that at $40 uranium is well underpriced and with a lot of producers closing over the last 30 years a very major supply problem is looming early next year. Worse still is that Kazakhstan holds about 45% of world supply and is now controlled by Putin so the problem may get worse short term. So Q2 2016 the uranium price may start to really fly. If you have the right Canadian uranium producer stocks multibagger doesn't even cover it. That's why Obama vetoed the Keystone pipeline recently as he wants US to go nuclear and my Saudi friends are talking of spending $40bln on nuclear power. Very sorry if I've gone off tangent a bit here but even big oil is looking at this. My apologies to all readers on here by the way but we all could make real money next year with a bit of research before the market wakes up to it