Energyvoice: Major oil currencies have fallen much more this month following the plunge in Brent crude prices to less than $30 a barrel, with Russia?s ruble down by 15%. President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of staunching an historic plunge in oil prices.
Trump, speaking at the White House Tuesday, said he’s raised the issue with Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman. “They’re going to get together and we’re all going to get together and we’re going to see what we can do,” he said.
A new chief executive has today taken on the top job at North Sea operator Repsol Sinopec Resources UK.
Jose Luis Munoz, a long-time employee of Spain’s Repsol, said his first priority would be to ensure the health and safety of the firm’s workers and contractors as it faces “challenging conditions” with the oil price drop.
Old news but important 27 March. MOSCOW (Reuters) - A new OPEC+ deal to balance oil markets might be possible if other countries join in, Kirill Dmitriev, head of Russia’s sovereign wealth fund said, adding that countries should also cooperate to cushion the economic fallout from coronavirus.
Our Graham talking, "Unfortunately for us when you release news into the market where Brent has dropped 8% today, so you're facing headwinds, but when markets come around which historically they always have; this will come very much good. Quite excited about it! "
Had a small top up first thing after; WASHINGTON (Reuters) - U.S. Energy Secretary Dan Brouillette spoke with his Russian counterpart Alexander Novak about the slump in global oil markets on Tuesday, and they agreed to hold future discussions involving other major world oil producers and consumers, the U.S. Energy Department said in a release.
The call occurred a day after President Donald Trump and Russian President Vladimir Putin agreed in a phone conversation to have their top energy officials discuss the drop in global oil markets.
Gary whatever the f@ck his name is, has always been negative on i3. He's obviously been burnt. I thought Majid was a bit apprehensive when discussing Serenity, but the O/P collapse has put too many hurdles in the way of a good f/o deal. Toscana was an excellent deal and we should build on it. I now feel as tho' I will get my investment back; even hanging around for a dividend?
They even discuss recycling cashflow between dividends and expansion. Graham looked as relaxed as I've ever seen him. During his time at Iona, Graham worked with the senior management team to build the company from infancy to 40MMboe of 2P reserves and production above 6,000 boe/day, listing the company on the Toronto Venture Exchange, and structuring equity, debt, and derivative financings in excess of US$670million.
GGG. An honest answer is I don't know. I said it was debatable because Toscana defaulted. That would suggest to me that the debt facility can be called in. I still believe it a good deal as we are not relying on this lot finding oil with the drill bit. If we can pick up some distressed producers at a knockdown price that's the way we should go. I'm assuming even if Serenity has less than forecast it should still be enough for a reserves based debt facility. I have no doubt the note holders will back i3; they won't walk now.
You would have thought i3 should have concentrated on Serenity and Lib. Perhaps we already have a deal as far as a f/o goes. Whether we have a debt facility as part of the Canadian deal is debatable since Toscana defaulted. This is probably just the beginning as a producer in Canada. When we appraise Serenity I would expect the reserves to qualify us for the RBL debt facility. If there are distressed producers in Canada, I certainly wouldn't object to there takeout.
I have more paper losses than GGG so can understand how he feels. I don't think Majid is CEO material. On the two dusters Majid and Graham were ultra positive; that's putting it mildly. On Serenity they have a recovery factor of 60% which I'll believe when it happens. I have to believe the two of them get their act together, as no doubt the Noteholders can ask that they are removed. The next news should be the General Meeting, pencilled in for February, but now only when news is forthcoming. Good Luck All.
Ftse on track for worst day since 1987 as Coronavirus grows. Trump adds to problems by stopping europeans from travelling to USA, tho' UK residents can? This is the general market and something we can't do a thing about. I am still sure we will get funds for the summer drills. No doubt i3 will extend the life of the warrants for all holders as they will probably be the first port of call for funds. No body sells warrants ATM; they are here for the longer term. Lets not forget the market we trade is a secondary market and the market can price a share as they please. We still have the Dana discovery at Lib which will be developed and transformational Serenity. I don't believe suspending the share would have done any good. We just have to ride out the storms' the same as the rest of the market.