Member Info for Givingthelowdown

The oil rig data tends to follow oil price , so oil rigs volu
E down = oil price down as this graph illustrates
https://thesoundingline.com/wp-content/uploads/2016/11/US-Oil-Rig-Count-Versus-WTI-Crude-Oil-Price.jpg

OPEC oil output increased in August for the first time in 2019, according to a Reuters survey, which blamed higher supply from Iraq and Nigeria.
The survey showed that the cartel pumped 29.61 million bpd this month, an increase of 80,000 bpd from July.
OPEC and major oil producing allies led by Russia agreed in June to extend its pact - to reduce supply by 1.2 million barrels per day - to March 2020.
The Joint Ministerial Monitoring Committee, which oversees the production agreement, said this week that compliance on that agreement was actually at 159%.

Oil rig data is meaningless, the indices look creaky to me, SPX has gap down to fill , i dont think Asian markets will fair too well with the traiffs coming into effect on Monday,

What spooked it Brent just lost a dollar in a second

My hunch is Zama sale wont happen until 1st half of 2020, why? because TD is launching it on the market at the worst possibly time , the China/US trade war is getting messy, Traiffs take effect Sept and Oct , projection for oil price for last qtr is not looking particularly good, I cannot see demand for a project like Zama with these background conditions, like all canny sellers TD will be launching it a toppy valuation to begin with , say 500m, there is no pressure for him to sell quickly, Zama will sit on the market for months, then probalby end up sellign for 200 -250m 1st half next year, adding 20p to SP..........

80.5 - 80.7....GLA

We just need a positive RNS to get this moving in the right direction, auction day today so maybe some news will be announced on the back of this

like you , i only look at 4hr candles DBNO for the general direction.....it will steady again after close....

I have positive news, PMO trades around 75p at Brent price of 58 dollars, I am old enough to remember the days when a 58 dollar Brent would sink this company....

No chance , oils staying 58 + so why would this go down, only more bad news will take it down

Darkfung, the constant DBNO arsekissing from 4 out of 7 posts you've made would suggest maybe you are DBNO

Agreed, Director bought at 21p and must be scratching his head at this SP, business appears to be no worse than it was 6 months ago, its sentiment + panic which dragged it down , not fundamentals

One of the core reasons this SP is so low is the strength of the dollar against the SA Rand, it hurts other SP's like PAF (pan african resources) for example which has a similar bat-**** crazy chart pattern as PDL, the dollar has peaked now so I expect this will take off, the big boys will be coming in for it, its a no brainer.

+ we don't know his present day finanical status, cos he wont release his taxes, so could be that he is a bankrupt, bankrolled by Russia for favours, like causing trade war, breaking up NATO, buying/invading Greenland, G7 should be interesting this weekend, never a dull moment with this one

but markets didn't drop a lot on Friday when China announced their hikes, sure sentiment will be low on Asia open on Monday but markets have very short memories and the tariffs aren't active yet, oil seems to have found floor at 58/59 dollars in bullish channel, last 2 weekly candles are bullish hammers, EIA was good, 63 dollars quite plausible next week,

Problem is the global economy has evolved for past several decades with this China-US set-up, trying to separate these respective economies from their global interconnectedness is like trying to separate Siamese (sorry for pun) twins, very messy with horrendous consequences, Trump is an unstable lunatic

While sentiment will be negative on open, on Monday, I have a feeling markets will bounce back next week, glad im still in , markets oversold

The new China tariffs, set to affect about $75bn of US goods, will be imposed in two stages on 1 September and 15 December.

What has Trump announced?
In a series of Friday evening tweets, Mr Trump said the US would raise its tariffs on $250bn of Chinese imports from 25% to 30% starting on 1 October.

Trump fires anybody who disagrees with him, until he is surrounded by 'yes' men, which is where we are now

only 7% of my holding...cos i need the cash...got 76.46...wasnt expecting the movement today, although still very positve about this SP going forwards

I need to sell 7% of my stake today as I got bills going out end of next week.......just need to pick the right moment....