Brent now $40.45 and we know output is now 12,000 bopd11 Jun 2020 00:09
as of 5th June (as per RNS Monday stating a 2000 bopd increase from 10,000). This is what matters. Who the CEO is not so important. Remember Brent was $35 bopd just over 3 weeks ago and 4 weeks ago just $30.
Was 10,000 bopd x $30 = $300,000.
Now 12,000 x $40 = $40 = $480,000 PER DAY.
Increase $180,000 per day. AND the sp has gone down!
So I never worked at a Company who's CEO leaving would have much effect as the management below usually do 95% of the work!!! Shame he left but unless he makes some sort of statement I doubt we will ever know. maybe he got an offer he could not refuse from BP or some such??
What I see here is a share price which is simply daft, silly, ridiculous, mad. You name it.
Anyone shorting should be extremely worried about the rise in the price of Brent, if nothing else.
I'm wondering if what we have here is an overhang of shares that were sold some weeks ago after the bead news closing down the other well. If so when it clears the sp will take off.
All IMHO.