Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
The rig is sitting off the Mississippi delta waiting to hop across the Gulf. Could be exciting times with those two wells, Pemex’s Tiger-1 DS should be with us in a few months to appraise their side, maybe sooner. Also, interesting to note on the OGA website that production data out for 15th July shows the Catcher fields hit 59.7kboepd. Nice to have the 60k confirmed by them from back then.
Sure it’s a14m build at Cushing and not 1.4m? We know your history with decimal places DBNO, and it’s not good.
At least we’re not down as much as Snapchat and Amazon. Makes PMO’s comparison to AIM stocks seem rather funny.
Understandable feelings Ros. I hope you’re not waiting too long to break even. I’m sure as another old timer you can see why I feel a little sense of irony at the moment: £1 for a long time was seen as the promised land, sometimes close but never quite grasped. Now here we are down the line it’s the herald of disaster. The posts today are similar in emotion to the ones the day I made my last purchase at 45p almost a year and a half ago. Back then I thought I’d be waiting a while to get back to profit with my 60p average. How wrong I was.
Hate to break it to you guys, but this stock doubled between April and May this year. Saying it moves down more quickly than up is just plain fantasy brought on by frustration. As with others who have been here a while, this movement is just par for the course. Risk trading it if you want, or just sit back and wait.
PMO never struggled to break 87p.
Thanks Plebeens and MO!
That’s a good question that I’ve wondered the answer to. Seems inefficient to offload 500,000 at a time. Maybe someone else will know, MO is a bit of a hot shot at that stuff if he still browses here.
Just a terminology thing, but I’d say 70k+ is the target, it just requires some debottlenecking to achieve. FPSOs can often run slightly above nameplate capacity with no additional work: as Plebeens points out with the 66,000 number. We know that at time of last PMO comments, Catcher was chugging along at 64,000 bopd (I believe that was just the oil rate, so they’ll be a certain amount of gas sales on top of that which would be the boepd figure). Assuming another 500,000 or so offload, 7.5 days puts the oil production rate at around that 66,000 bopd figure. Associated gas is probably worth another couple thousand boepd, albeit sold at a different price.
Good to hear Plebeens, back to 7-8 days would be great.
One of the first to post Q3 results. Swings to a big profit, revenue surging from $13.6 billion to $19.1 billion. Compared to other sectors that are seeming to disappoint, I think oil will be one of the best performers this reporting period. Investors still underweight on O&G stocks, hopefully these bumper results will help shift this.
members, I know the recent drop is frustrating, but recently you sound like Eeyore at a wake. It can be hard, but I suggest switching off for a while. I know personally if I only checked the price once every 3-6 months I’d be much happier. I’m fairly certain if we both switched off and came back again in that period, we’d be feeling a lot more like Tigger.
Some hefty product draws in there, decent numbers. Smaller crude build than APO but still sizeable. Let’s see what happens.
Well done to those who got in at 104p.
That’s wrong members. Our SP was down in the 40s last year when oil fell below $50 in June/July briefly. My point is the trend is still up - yes, it’s pretty shocking that the SP is where it is given oil now at $78, but it’s just the part of the nature of the stock markets. I wouldn’t be surprised if PMO went below a £1 tbh and I also wouldn’t be surprised if we set a new yearly high before Christmas. This is a pretty volatile stock.
Don’t think this is anything PMO specific, whole sector getting smashed over the past few weeks. Each to their own, I’m just glad that it’s 110-115p that’s the level where worry starts to spread on the board. I remember when it was the 40s that did that. No doubt this time next year it will be a price considerably higher than today’s that causes people to start to worry.
Cheers oiluser, that leaves quite a lot of room for improvement. Things like average porosity, saturation etc might move up or down a tad now with all the data from development wells, but changes to recovery factory often make the biggest difference to ultimate recoverables, followed by net pay thickness that seems to have come in ahead of target. Extra barrels at Catcher should be worth a small fortune.
Magnitude of Catcher ungrade in March will be a big factor for the share price. Extra barrels there are worth a massive amount. Clearly there’s more oil there than they thought at sanction, how much more is the big question. Anyone happy to know the recovery factor that was assumed at sanction? IMO that could be the biggest factor in any reserves upgrade.
Then you’ll find out the next day he bought yesterday at the day’s low and sold at the following high. Some of us can only dream of such skill eh?