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I've never been so confused by the press articles surrounding oil price/demand and future predictions, the sector really doesn't know which way it wants to go, depending on which articles you stumble across on a daily basis you can go for one extreme to the other.
I think we need a strong catalyst to get this moving again and provide reasonable value.
Noticed a bit more recognition for IMO 2020, bit up in the air on this one, it could be 2020's saviour or depending upon levels of enforcement, or it could amount to nothing.
Looking for an exit in the next month or two if this nonsense continues.....
Nice - 10.9m draw this week, Brent ticking up already....
Keep Zama, once in production it will assist in servicing debt short term and help build the foundations of a debt free PMO in years to come....
I'd setlle for a farm down to bring the debt burdon of seeing it through to production less onerous to PMO.
Carrot, get yourself down to meet Sam, seems a nice humble guy, and given you're likely to be a future major shareholder I'm sure he'd welcome you with open arms.
Also some digs I'd recommend - https://www.plumguide.com/homes/london/welbeck-street-v-2
Demand is falling for now, have a read of this, I expect marine traffic will adapt and migrate in q4 ready for new legislation coming in to force, there's your additional crude demand made up to support oil prices.....
https://www.mckinsey.com/industries/oil-and-gas/our-insights/imo-2020-and-the-outlook-for-marine-fuels
Link kindly provided by fecm on RKH chat.....
https://www.managementtoday.co.uk/premier-oil-survived-oil-price-collapse-haggling-bankers-botched-investment-return-growth/growing-businesses/article/1590211
Sorry, trading update, night shift head on......
Hopefully supported by buy ins prior to results.....
I've achieved 6 places just for posting this!
Members has slipped, anyone remember him/her?
Apparantly I'm a ramper, even moved up a few places this morning without even posting.
http://pumpedordumped.com/rampchecker/rampcheckbytidm.php?search=PMO&
Couldn't ask for much more really, should help things along the way....
https://www.google.com/amp/s/amp.theguardian.com/world/2019/jun/29/us-china-trade-talks-back-on-track-says-trump
Geordie, that should lead PMO nicely into 2020 where we'll hopefully see Tolmount first gas, sea lion FID/sanction and Zama Feed study/FID.
It has absolutely everything to do with Hugh, he takes responsibility for operating the company and directing it towards the ventures we're involved in, during the decision making process he must evaluate risk and the possibility of generating a return on any investment he makes with shareholders money.
Prior to entering applications to obtain licences which also carry charges to service them assurances should be sought from government heads to ensure that there is a reasonable possibility that any geologically sound licences can for starters be drilled, and if a suitable commercial discovery is made then given all correct measures are put in place then said Wells can be brought into production.
Blaming enviro nimbys is no excuse.....
Performance has been terrible and real world progress is Zero to date.
Initial investment has now diminished more than 75%, in that time the company has achieved no material progress whatsoever under Hughs leadership.
Diabolical company performance, anyone care to punt when our current miniscule amount of production will dry up?
Looks like we'll be in the 1.**p range shortly....
Also interesting to see that Russia are flexing towards US with Naval vessels positioned in Havana....
https://www.express.co.uk/news/world/1145022/russia-news-vladimir-putin-donald-trump-cuba-russia-warship-spt
Are we heading into the perfect storm?
Draws coming in sharp.
Extension of cuts by opec likely.
US/China trade deal looking more likely.
US/Iran tensions escalating.
Zama news and possibly a hint at forward plans due.