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At 30pps this would still be dirt cheap. Agree I think we could well see 100 dollar oil tomorrow. I think it’s going to settle in the 110 to 130 range which will be transformative and I think kick off a revaluation by Christmas to around the 30p mark. Taking all the EPL discussion to one side here is how I am looking at things. Oil is about to become a very precious commodity. And Enquest have plenty of it in a very safe jurisdiction. As I say. Nudge the tax position aside and look through that lens and you have a bargain. The tax position will moderate as it has to.
Https://www.telegraph.co.uk/business/2023/10/13/israel-hamas-gaza-world-oil-crisis/
Blows my mind that with these at close to all time low and oil surging. Debt coming down and although high tax you won’t get a safer location that these are not being bought like mad. The tide simply has to turn as the market is totally disconnected here…
Personally I have a feeling Israel will look to extract hostages as number one priority. Mossad will then mop up longer term. Once that’s done I think Iran will be hit. Then just watch the oil price.
Probably compiling targets right now.
Exactly. There is every indication Iran is heavily involved here. How far will Israel push this. The question should be how high will oil go. Not will it rise. Personally I think the match to 100 is right back on now.
i don’t hold at the moment and i’m not saying amazing results but the share price is absolutely on its **** and this is an incredibly difficult period which i think we are coming out of slowly. with that context i think these results are perfectly acceptable. same as asos last update. not great but priced in. these online behemoths will recover.
No shocks. They are going to get through this and be in a very good place at that point. Seems like margin improvements are really moving up and like Asos they are just not selling to customers if they don’t make a profit which is good.