We have another 4 months worth of 37% crude production28 Feb 2020 23:29
paying us $64 due to the hedging. 14% of our 2nd half production is hedged at $63. These are as per the RNS dated 7th January. It will be interesting to see what the last 23% (assuming that was the target) has been hedged at. We will find out Thursday in the results. Four months is a long time as far as the oil price goes. I post this as Brent is hovering around $50 and investors are panicking about the 20 cases of coronovirus in the uk, of which 8 have recovered, so a massive 12 actual people who actually have the virus. The USA have 62 cases, of which 6 have recovered and been sent home. So they have 56 people who are being treated. The thought occurs to me that the remaining 56 could very soon recover (or nearly all of them ) as the 60 ish figure has been there for a few weeks now. I wonder what would happen if it were reported that 50 of the 56 had been sent home? I suspect looking at the reporting some news channels would not report it and print someting else negative instead. This situation IMHO is far from lost. People (except doctors in Northern Italy who clearly never look at the news so had no idea their hospitals were filling up with coronovirus patients over the last several weeks.......idiots or criminals?) know to wash their hands and generally keep their distance from, well just about anyone. This, together with hotter more humid weather may yet stop the outbreak, which apart from in China, South Korea, Italy, Iran and Japan is only in double or single digits to date. We are at the moment a long way from a massive problem and luckily summer is only a few months away which will be a huge help. A massive help that may set the virus back for enough time for a vaccine to be available. I have read the pharma Co's don't make much money from vaccines compared to other stuff they do. Well..... I think they will have worked out that a vaccine for this bug would bring in hundrends of millions of pounds if not more. If you had a vaccine that say 20% of all people on earth (about 8 billion) wanted then you have 1.6 billion customers. Good business I think.
Alll IMHO.
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