Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Some great points Ocelot..
One thing I do not understand at all...Everybody says China is improving re Corning virus but how can that be..?..Surely there are millions and millions of more people who will get the virus...
Any thoughts...
Hawkey
Im with you hasiba.
Not even considered selling. Monday we could rise a lot or drop a lot but our fundaments haven't changed.
Low debt
Low production cost.
Can pay dividend at 40$ oil
So Im going nowhere…This is where the money is made…..
If you don’t need the money all is fine, just hold and switch off. If you have invested and need the money….Sell as soon as possible and learn from this time.
If you have spare cash…BUY BUY BUY…
Hawkey
https://www.ft.com/content/c1b899ec-5fe5-11ea-b0ab-339c2307bcd4
So we have a game in which all oil producers will lose but non producing countries will be delighted.....
Difficult to know what happens next....Saudi won't won't to up set Mad Donald. The USA are their protector.....
Its all political as Russia want to punish the USA for sanctions on Roseneft and their general treatment of them.....
One solution would be a 3 way deal, Opec & Russia & USA.....Not likely but anything is possible.....3 winners instead of 3 losers......
I really don't understand China but if the figures are true they seem to be coming out of the Corona Virus...How the hell does that work ?? And if they are, they could spend like crazy which will help.
Ill just have a scratch of my head and then bring back the solution for the world.....If only....
Hawkey
Well what a fine mess we have here...........
If its true that Saudis, Russians and we know USA are pumping like crazy not to mention Corona Virus...oil prices could go anywhere. Easily hitting high 30S.......
Many many companies will hit the wall especially Shale and also heavily indebted companies like PMO, Tullow and numerous others.
Monday I think the carnage continues so its hard hat and fingers crossed.....
Long term all will be well. However the next few weeks or months could be very very tricky.....
Good Luck Mr World......
Hawkey
That’s what I’m doing.....
Will we go lower...Limely possibly may be....but maybe not.
I’m in a fortunate position of having a number of years before I need may shsres money.
Just had a email from Princess cruises offering me to postpone our cruise at end of March which we took up. So they are clearly shutting up shop for now until a antidote is found. There problem is no one will allow them to dock plus the latest USA drama ongoing.
Oil is likely to get worse as planes, ships and public transport is scaled down....
However and this is the sunny side up.... There will be a antidote and when that comes we will be back to business as usual with a lot of money from central governments to kick start everything. We will also have less production as Some Shale won’t survive......
Keep The Faith....Don’t panic....
Hawkey
Hi hasiba,
Stay in the shed for a while and hold firm sand it will become a castle....
Thank goodness they only cut oil production by 1.5 million or we would really be in the cart.
It just a moment in time, Genel can pay their bills and dividend at 40$ a barrel and it could be worse..........Though not much....lol
Hawkey
I know we are completely different companies but they have gone down from £2.50ish to nearly £1.40.
Just seen strange as they face same headwinds as us and have a huge cash pile, large Buyback, decent dividend and increasing production.
Everybody knows GKP is a bit cloak and dagger but still a bit strange and whilst I’m at it I still can’t see why a merger doesn’t makes sense and then with large war chest diversity to other areas...
Any thoughts ...?
Hawkey
Good to know our team are on their travels.
Never hurts to tell the Genel good news stories....
Please be silent Mayor Bunks......lol.....
Not just good but excellent considering GKP and everything else around us....
Hawkey
Hi Jim800,
Your comment are certainly taken on board and I’m not complacent about the payments and the importance of them.
If you read all of my post I explain why I think the payments will continue and this is supported by the following from Genel at the end of January.
“Genel reiterates that it expects regular payments to continue, as they had since September 2015, and to be fully up to date on all payments by the end of Q1.”
All the best....
Hawkey
Hi Jim800,
Your comment are certainly taken on board and I’m not complacent about the payments and the importance of them.
If you read all of my post I explain why I think the payments will continue and this is supported by the flowing from Genel....
Just passing time whilst on holiday in the Manor.
If you were CEO of Genel and couldn’t get this gas off the ground and wanted to invest approx £200 where would you go....I’m excluding Buy Backs or dividends.
More Kurdistan assets.
Swallow up a smaller fish.
Farmin more assets such as Sarta but in another country.
Buy some North Sea assets.
Have a crack at Somalialand on your own....
Just to name a few
Plenty of options.......
Hawkey
Good points JL but and if it was just Genel I would agree with you.
However the payment issue covers many oil and gas companies. On top of that it would ultimately mean nobody in Kurdistan would produce any oil or gas. Likewise I don’t think anybody would step into our shoes if they weren’t going to get paid.....
Much more importantly is the effect it would have on international financing which is desperate for Kurdistan’s infrastructure and their future success....
Honestly, for me the payments are a distraction and our progress with our assets and production is much more important....
Sarta, Qara Dagh, Bina Bawi, Somalialand and who knows maybe some new assets.......
That’s where the discussion should be for me.......
Hopefully major news soon......
Hawkey
I’m here Long term so for me when the winds change we are in a fantastic position.
Sarta is nailed on for a good few barrels and could be much much more.
Qara Dagh is held in high confidence that it was drilled in the wrong place last time and if they hit it will be a game changer.
Somaliland land will hopefully go ahead without to much more spend but will be a free carry for us. Billions and Billions of barrels of potential.
A decent war chest to pick up distressed assets is also very useful at this time.....
Mirna and Bina Bawi will be the icing on the cake when we kick these off......
So is Genel risky....Yes but for me the long term risk and reward is better than ever.....
Keep the Faith and getting buying a few if you have spare cash......
Hawkey
The last thing I heard from Genel was that all August and September payments have been made...
I guess things aren’t helped by the fact there is no functioning government in Iraq....
Bottom line.... If payments are not made the KRG know that investment will cease and their golden goose is cooked.
Much more importantly they will be seen as a Pirarah in international money markets and any future inward investment would cease immediately...
You pay your money and make your choice.....
But for me a low cost, debt free company With exciting prospects and paying a dividend............
Well there could be worse places to invest.....
Hawkey