Member Info for hitman1a

I always thought there was a choke on oil shale wells so you could decrease output and adjust accordingly with demand.
Added together will less frac spreads and natural declines, the US crude inventories might be ok.

Everything is being adjusted quickly to avoid running out of pipeline capacity and storage.

Yeah, I thought PMO would hold its earlier rise, but it didn't. Try for 32p again tomorrow.

Hope so, perhaps even more, but today's flat sp was rather unnatural. Almost as if waiting and collecting shares to fill a larger order. Hope we don't see a repeat tomorrow and we get more than 13p.

Not sure about 19th, if Saudi OSP normally issued say by 5th .. albeit last one was delayed so next one will be too.

Maybe someone caught sight of draft numbers and it explains the rise in Brent etc ? … less discount means higher prices.

Saudi need to reduce the OSP next time to boost the market price.. and all our SPs

if they feel confident of not loosing any customers. Bit of a waiting game ..

it's almost as if it won't go up until PMO goes up..

haha.

What if: said the man in the pub.. always nice to know what could be achieved.

WTi :$33 and Brent $40 by early June. $15 margin on 60k/day.. $27m /mth profit.. not bad ..

$45/$50 would be "fantastic".. I'd have to agree with AB. … but will the SP re-rate as much as we want.. 20p?

I was jealous MH got his at 19p.. but I feel much better buying some more at 12p this morning.

Looking for 14p plus within 30 days, and I'll probably sell this tranche . Reliant on Brent climbing to $35 at some point.

Most of OPEC need $50+ today.. so let's see how quick we get there.. perhaps late Q4 2020.. but feels like it could be earlier given today's action.. large funds positioning to sell at $50 whenever we get there.. ?

https://www.bbc.co.uk/news/uk-scotland-scotland-business-52523905?intlink_from_url=https://www.bbc.co.uk/news/business&link_location=live-reporting-correspondent

Setting the record straight after that RBC 1p target price on 16 March .

Should have been £1 imv , if Goldman are correct about $65 in Q4 2021.. "fantastic returns" of free cash flow of $700m/annum if we are still doing 50,000 bopd.. but I guess they can top it up with budget drills at Magnus and Malaysia to keep it near this level.

Agree with everything.. apart from the last line.
"Now is the time to take on the large investments and borrow some hefty sums"

Now is the time to sit on our hands.. do nothing.. invest nothing.. and deleverage with quality assets doing the work to make profits for shareholders . Was just trying to work out how much profit AB has made on all his shares apart from the free ones.. answer was zero. ...….It's time he made a return.. #metoo.

Brent at $50 should see a market cap in excess of £500m.. so 30p / share in Q4. and we won't need to talk about dwindling reserves and the pace of deleveraging.

The NPV of the BP assets must be close to zero.. so spending $500m isn't the right decision.
I thought the recent interview confirmed they would be having another conversation with BP, so the method of acquisition and price also remains up for discussion too. I agree with ARCM. .. come back to it in a couple of years time.

I wouldn't want to participate in a rights issue or placing .. but would be delighted if the SP climbed with Brent over the next few weeks/months. ARCM should close their short and take the profit.. The company might pull out of the BP deal anyway..

The US won't have enough Remdesivir for the rest of the world for a long time., so our best bet is the Oxford vaccine which could be ready early June.. It's already been tested on monkeys.. the 5 monkeys that were given the vaccine and then given the virus showed no virus effects at all .. in fact they didn't have much to say... The other 5 monkeys that got the virus because they didn't get the vaccine showed all the CV19 symptoms... their fate is unknown.

We have now moved onto larger testing phases.. 100s of people.. saw a good interview on TV with one of the volunteers.. Early June imv.. Boris will give people the choice.. wear a mask, and/or join the trials.. …. in a way bypassing all the long term testing that new medicines have needed to show any side-effects.

GL. think oil demand will increase steadily in Q3 as E121 has indicated. Goldman still indicating a deficit in June due to widespread shut in's . Looks rosy from my home a few miles away from Knightsbridge too.. Trump is aware that the Oxford vaccine will be available earlier than the J&J version.. cotton buds is still a very good business.

We are looking at perhaps 50% less employees with the shut down of 4 hubs, 2 are already closed.
With current production and the minor loss of production from the remaining 2 hubs, we have a very low free cash flow break even number, with a huge saving in wage costs.

Finally Enquest has accepted that spending good money on very old assets doesn't work anymore. A lot of BPs assets might go straight to DVD rather than being offered to Enquest. In a way it's raised the bar, we want a lot more barrels for the same money if we ever did another deal.

I was hoping for a bit more, but Texas is now reopening, so do you think this might encourage them to keep fracing ?

US Rigs minus 57 ....now down to 408. Mainly reductions in Texas.

US Rigs minus 57 ....now down to 408. Mainly reductions in Texas.

E121, she will vote no, as the decision is above her pay grade. Her words, but mine. It's better Shale shuts down parts of production, but a quota system would have prevented prices declining in the future. Is the meeting 5th May ?

The US is opening up significant parts of the economy... US flight passengers will be required to wear masks... the rest of the world will watch and follow... this will be our Independence day.

Target Brent $50...