RE: EmeraldCarrots8 Oct 2018 22:57
I must admit Nobel and Edison giving up on that block ARG have was a surprise. One they will, in five years time regret I think. However PMO have stated time and again they fully intend to harvest the Sea Lion oil field. They want a partner to spread the cost as we know. We also know the price of oil has doubled in the last 18 months or so, thus any partners calculations would have been improving steadily. Then we have OPEC, being controlled by Saudi and non-opec Russia determined that the price of oil will not dive South of even $60, let alone $50, or $40. As things stand if the price of Brent crude drops below $60 I think Russia and OPEC will act to support the price. Thus any Sea Lion contractor has good reason to think the oil price in 3 or 4 years time is unlikely to have gone lower than $60. My opinion is Premier will find a partner soon. Once announced I believe RKH's share price will double.
All IMHO.