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I think this is headed back to 82p new support and to fill 2p gap on hourly chart.
Bear in mind OP, lack of payments and request for donations from IOC by KRG.
OP dependant on whether Trump can get MBS to the table.
If so, great, if not OP down to $25.
We'll see.
AIMO
Jack
Been out all day and just got in to see this metioric rise.
OP on its knees, 4-months O/S payments and been asked to contribute to the KRG's Coeona Virus fund, because they're short of cash (See GKP board around 9.00am) and I see 117p on my City Index account!!!
All the above made me feel like throwing the towel in this morning, but glad I did'nt - obviously.
At 117p, Boyo's Oil Price delta/beta/factor - whatever is at 4.11!!!
Dark room and cold flannel & for Boyo, I think !
Summatz up, but what??
ATB
Jack
Mr Straycat,
I disagree with your "take away..."
You don't need to be einstein to work the numbers:
GKP have said $35 'b/e. The OP is currently $28, difference $7 x 38000 barrels daily is $266k/day x 30 = £8m/mth x 12 = $96Million. Less of course our "conrtibution" to their lack of finacial control, say $50m, and all of our Cash has gone in 12-months.
Where are our back payments? Where are our monthly payments? Where is our FDP?
We're tarding a little over 1/2 of ONE PENNY in "Old Money"
God, why did I ever get into this mess!
Jack
Basically, KRG just told us we ain't getting paid anytime soon.
How tackful of them to write an "open" letter.
Surely this should be done behind the scenes, or maybe ask some of those wealthy Kurds for a contribution.
Utterly stupid
$50m on disaterous Share Buy Back looking like a major error now.
Loosing $10m dollars a month doesn't look good to me.
12-months and we're done.
Hope they keep enough cash to sue KRG for non payments (LOL)
AIMO.
Disappointed
Jack
JL,
Thanks for a very realistic assessment of the current situation with which I sadly concur 100%.
My small town in the heart of Surrey was practically a ghost town y/day, with supermarket shelves trashed of Loo Roll & Handwash, nad not a small bag of Pasta to be seen anywhere.
The road and pavements were earily quiet when I went for my evening walk....
The Dow 'bounced' strongly (2000+ pips) off the Monthly rising trend from 2009, which was promising, but USA are now 'waking up' to the reality of the situation. US Markets sitting precariously at a 20% fall from peak, below which is apparently defined as a 'Bear Market' IF it falls further, which 'fits' your pertinant overview.
Not looking good for Oil, and without KRK payments, which in my view are now for the fairies, Genel is likely to be down at these levels until more clarity of the extent of the situation.
Only + is we have a strong and stronger balance sheet than most which will hopefully enable us to see it through.
Tough tough times ahead in my view.
Best wishes to all.
Jack
Gosh....!
Could some kind soul please remind this fellow sufferer what our "Break-Even" Oil Price is?
Memory says something like $17/bl
Looks like the divi will be out of the window.
Crickey - Losses too deep to cut now, so holding on and hoping for some sanity to prevail...
Jack
Gosh....!
Could some kind soul please remind this fellow sufferer what our "Break-Even" Oil Price is?
Memory says something like $17/bl
Looks like the divi will be out of the window.
Crickey - Losses too deep to cut now, so holding on and hoping for some sanity to prevail...
Jack
Dow put on 800 pips in the last 15 mins.
Is the end of Corona Virus, or was the Vampire Squid closing out shorts?
What a cynical and duplicitous bunch our financial markets are.
Nice "Double Bottom" from the equally contrived "Correction" in Dec '19
You just have to laugh....
Any excuse to "blow the throth' off the 'heady' US indicies
How many 'honest' investors got screwed this week?
It's a complete and utter Casino and the Tables are seriously rigged.
ATB for a better week coming.
Hope OPEC help us out a bit
Glad I bought some more!
Jack
Unfortunately, there's a Gap on Oil at 52.35 dating back to 28th Dec 2018, and it looks likely to get filled.
I think an early meeting of OPEC + might help to arrest the decline, but that won;t be for a few days yet.
As some have commented, G has held up well, but a visit to the 170's is looking imminent.
An opportunity to add for the brave.
GL all,
Jack
Agree with all of that Boyo.
GKP do report however, so IF they repoat, we can assume we have receipts too. Price action will confirm this.
Yes, I too noticed the January "promise" has been strung out to Q1, and yes, it is a concern.
Hey Ho! We watch and wait.
atb
Jack