Member Info for hitman1a

Didn't have any issues buying 50,000 at 21.40p.

Struggled to buy 25,000 shares today via Barclays.. took about 10 attempts and eventually triggered at 21.75p ..

We have OPEC meeting next week.. but surely the discussion has to change.. It's not about asking every member to cut but more about asking the main producers that supply China to cut. That means including Russia, so it's an easy decision for Novak to make.. he has after all lost his customer for a short while. I suggest Saudi and Russia need to cut 1m each /day for 3 months to balance the market. No doubt both will say US producers should slow down in Q4 as the drilling budgets for Q3 and Q4 are now much weaker.. Interesting times, but I see 25p here soon.



Warmer weather in May should help reduce the spread of the virus and Gilead' Remdesivir should help treat symptoms to at least prevent any more deaths.. So while we wait for the US to complete trials, we really have a good opportunity to pick up the low hanging fruit.. A combination of OPEC+ action and Remdesiver should be the perfect solution to head back to Brent $60 over the next 3 mths.

I would estimate Opec + would need to take off a further 1m barrels of oil for the rest of the year.

Let's see if Russia still think no action is required at the March meeting.

Early morning raids to get any sub 26p, then back up.. but there isn't any volume.

I do believe we will have to start going up further to fill the "behind the scenes" order.
Let Brent recover and do all the hard work over the next couple of months, which puts us in the 30p range , thinking about 40p. GL.

Bloomberg reported last night that Sinopec had asked Saudi to stop/reduce next months shipments..

Not only do Saudi have less customers next month, but also a lot less revenue.. Same applies to anyone supplying China, including Russia. Why OPEC + are dithering is beyond me.. We need extra cuts to last the whole year , perhaps even a bit longer until we see the Shale peak inflection point. In the meantime there is too much oil in the market..

No dividends this year imv.. but the bigger picture is the market cap re-rate.

Predictions on when 40p might be reached is far more interesting. Earliest is April 2020 imv.. Takes about 8/12 weeks from when a company says its turned the corner to seeing the SP move accordingly.. so should follow up accordingly with Brent's recovery to $65 heading towards Results and AGM.
GL.

If 200k is accurate, then Opec + cutting another 500k for 1H 2020 should drive oil higher earlier than expected.

Opec + always seem to do the bare minimum , but market the action plan as if they have done more than required. No doubt weak prices in Q1, but some sort of recovery in Q2 imv.

"We have now set a platform to use our capabilities for continuous improvement and to be able to enhance value for shareholders........ ".. so bearing in mind CMD, how much can the stock market add to the market cap now the business model has been positively updated. 40p still looks reasonable, with existing Q1 hedging in place so long as China normalises by April and Brent moves back to $65.

Be nice to see US rigs start to decline next week as Chinese demand has fallen significantly.

Clearly we identified someone using the 1 volume trade to indicate the RNS had been logged, As it was after the market closed , i think we can let them off, ........now they are covering their ass using all the numbers . Well they picked on the wrong code breaker . I have been watching for a while, gaining expertise in pattern matching and using extrapolation and probability to predict outcomes. I see you.

They do if you have 12 years worth of reserves ( excluding significant 2C potential identified at the recent CMD) and can repay $300m each year.

I was right

Lol

Code for you know what.. an RNS logged in the system to be released in the am. ?

As Brent is so weak.. it might be time to release a decent RNS.

Maintaining 65k average in 2020 sounds about right.

In the meantime I read this article, which sort of inspired me to keep the faith and hold on for better Brent prices at some point. Perhaps the inflection point is within a year.

https://seekingalpha.com/article/4320190-abrupt-reversal-of-shale-oils-fortunes-points-to-radical-reset-of-oil-prices

Thanks for update , and Enquest should release an update within 2 weeks , WTi low enough to dampen growth in rigs. 25p looks like a good entry point for new investors and those rebuying. I was still impressed by the movement last week when it touched 26p and then went back to 26.75, so I think there is a II out there building on an existing holding quietly.

I can see you

Still getting quoted 26.44p even when Brent has fallen , so looks like this might be support , Also getting quotes for April delivery on surgical masks .

Just trying to find a pattern between the algorithm and Brent. Thinking the positive cashflow outweighs the decline in Brent given we have the Kraken premium , so likely 30p should be seen again after ops update . ?

Not really , demand is still very healthy , ....could just be the speculators reducing their net long positions.

None of the oilers have moved down . I’d expect Tullow to start first , but it’s still not budging , Same for Enq and PMO , guess we should be pleased , but loosing $4 off Brent since Jan 20 has cost say 3p off the SP.

Brent now sub $61, mainly due to oil longs exiting imv , ...was always a bit high according to Bloomberg analysts , Enq takes about 30 mins to react to Brent declines so I think we will test 26p again today .

Chum Lee says $3.00 to $3.99 on top of Brent .