Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Another oil price spike when US opens perhaps?
1% on oil is normally good for 2% gain on PMO. So a 12.5% spike in oil (albeit maybe lower by open) should see PMO up 25%? Seems unlikely but an open above £1 on the cards now.
Back to a 40 year normal average? That’s honestly the stupidest thing I’ve ever seen an analyst write.
Even a $2-3 dollar rise should see PMO open in the 90s.
I doubt $100 oil is coming. Yes if 5 mbopd stays of the market for a while that’s certainly possible, but I hear Aramco are able to cover some of the shortfall with their inventories, which they’ll be able to replenish pretty quickly when things are fixed given how much they’ve been pumping below their max recently. Really depends how bad the damage is. Still, the overall sense of threat should add a continual premium, even if there’s a brief spike then decline in the coming weeks in oil prices as the fields come back online.
Wow, that’s actually a huge in leap in terms of impact from attacks. Size of that smoke plume from space suggests it wasn’t just a small blaze. Not sure traders can afford to ignore tensions now that one of the most important facilities in the world has been attacked.
Mrpaul, it’s cute to want to defend your friend, but DBNO is old enough and ugly enough to fight his own battles.
Well done on your trades though. Not quite as low as my buy ins, but profit is profit!
If Carlsberg made people whose advice you should ignore on this website...
Hate to bring the chat back to the topic:
Talos Energy
Petroleum Rights / Renewals & renegotiations : Zama renewal
The CNH has approved a Talos request for a 2-year contract extension to its CNH-RO1-LO1-A7/2015 (Zama) block beyond the normally-due expiry of 4 Sep ’19. Talos filed a modified explo plan that would normally include a single-well commitment, but the company has exceeded its requirements so no drilling is required – but Talos may however propose to explore the Xlapak or Pok-A-Tok prospects. It will also have to relinquish 50% of the area that doesn’t include a CNH-approved devt plan. Talos (op), partners Wintershall Dea + Premier.
Beerbull - I think HUR have learned a lot along the way from each well to the next. This next DST is within local structure closure so chances of a good result should be fairly high. I’m holding there too, but the last result was an important reminder that it’s never plain sailing all the time in the E&P business.
Unless the DST is a disaster like the 4Z I suppose.
6 months or so and I think I’m probably no longer bound by the data room CA!
Thoughts on shale - bankruptcies are a red herring - the companies driving the production growth are here to stay. Production is only going to increase, albeit at rates commensurate to oil price and investor sentiment. Having the oil price where it’s been since June will probably have tempered the growth rate somewhat, but it’s nowhere near it’s peak.
Should be about 6 weeks grippa. Less if things go faster than planned. Longer if things go slow.
Grippa, it’s not targeting 200 million barrels of oil equivalent in gas - not sure where you’ve got that from as I haven’t come across that figure anywhere. It’s target is 220-300 bcf gas (p90-p50) - which is about 40-50 mmboe.
Exactly comeonvog, not sure why people are seeing this hurricane as super-bullish for oil. I don’t think it will be.
Also Tolmount was predicted to be a 3 month drill, so I wouldn’t hold your breath for news just yet, probably a month away at least.
Very little oil production in that area of Florida. It would have to veer west then keep on going for another 700 km or so before it has a major impact on GoM production.
Kraken, think you’ve made those numbers up off the top of your head? Peak production half that, p50 reserves less than half that. It’s still worth a lot more than 200-250, sure, but no idea where you’ve got those numbers! Certainly not from anything PMO has put out.
Oops, meant Petronas in my last message.
Hi MO. Agree, think they’ll keep 30% absolute minimum, Hopefully more like 35-40%.
I’d be surprised if it falls to one of the majors, they will have looked at it a number of times already. Not impossible I suppose. NOCs seem to be on the prowl - Qatar Petroleum, Petrobras, the Chinese etc. Maybe some PE backed player? We’ll have to wait and see, it’s a good project with a decent reserves and a low breakeven. But it’s hardly new.
Can’t argue with any of the negative comments about Trump posted on here today, but the fact of the matter is China has been stealing IP from around the globe for years. People had been predicting a trade war with China for a while, regardless of who got into the White House last time around. Lot of anger from people here because the trade war is costing them money. Yea, me too and it sucks, but while Trump is a lunatic, this trade war has its justifications.