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Before its agreement to cut oil supplies even started, OPEC’s production plunged by the most in almost two years last month.

In a sign of the urgency felt by the cartel amid tumbling crude prices, leading member Saudi Arabia throttled back production, according to a Bloomberg survey of officials, analysts and ship-tracking data. The group’s pact to curb output only formally started this week.

The kingdom’s deliberate cutbacks were compounded by unplanned losses in Iran, which is being targeted by U.S. sanctions, and in Libya, where protests halted the biggest oil field.

https://www.bloomberg.com/news/articles/2019-01-02/opec-output-falls-most-in-almost-two-years-as-saudis-begin-cuts

Not long until results now!

Before its agreement to cut oil supplies even started, OPEC’s production plunged by the most in almost two years last month.

In a sign of the urgency felt by the cartel amid tumbling crude prices, leading member Saudi Arabia throttled back production, according to a Bloomberg survey of officials, analysts and ship-tracking data. The group’s pact to curb output only formally started this week.

The kingdom’s deliberate cutbacks were compounded by unplanned losses in Iran, which is being targeted by U.S. sanctions, and in Libya, where protests halted the biggest oil field.

https://www.bloomberg.com/news/articles/2019-01-02/opec-output-falls-most-in-almost-two-years-as-saudis-begin-cuts

Keep an eye on OPEC

;)

Before its agreement to cut oil supplies even started, OPEC’s production plunged by the most in almost two years last month.

In a sign of the urgency felt by the cartel amid tumbling crude prices, leading member Saudi Arabia throttled back production, according to a Bloomberg survey of officials, analysts and ship-tracking data. The group’s pact to curb output only formally started this week.

The kingdom’s deliberate cutbacks were compounded by unplanned losses in Iran, which is being targeted by U.S. sanctions, and in Libya, where protests halted the biggest oil field.

https://www.bloomberg.com/news/articles/2019-01-02/opec-output-falls-most-in-almost-two-years-as-saudis-begin-cuts

RNS That should just about double our production.

:)

Agreed the current financial health of the company is strong, moreover I suspect we may have major deals of Tunisia/Sarawak inbound.

Time will certainly tell

Erm, the spread is 50%

(:

Further decent buying again today, every day is another day closer to the spud of our two drills.

;)

Who is to say that they haven't had early oil shows? That could also be another reason because if they have it will blow this current share price completely out of the water

No worries, it looks like a large buy order is being pushed through. Maybe that is why they are delaying the trades

Are the two 500k trades yours jimbo?

I was fortunate mate, albeit two close calls but got out both times. Others may still be holding today from those levels

I had two close calls here during some of their shenanagins at that time, once upon a time this was 5.5p

Multibagger indeed! Happy new year all.

Plenty of positive chat the last couple of days on LSE, ADVFN and twitter regarding the RNS on Monday

Wow, be careful before throwing further good money after bad.

Are you serious?

Courtesy of Simon Spear....

Again this is for a producing field but it is at European prices. Shell recently sold their 45% stake in Corrib (offshore Ireland) for $1.4billion. Field reserves approx 1TCF, so the share they sold was approx 450BCF. The field development cost for Corrib was about $500m. Saouaf is onshore and close to existing infrastructure - it will be no where near that amount, not even close. Guys I don’t know how much it’s worth right now, in this market and at this stage of exploration, but as a developed and producing field it’s worth billions. Just sit tight, derisk at sensible times if you want or need to and enjoy the ride!! I’m certainly glad this is my largest holding that’s for sure!!

Might be an interesting start here in the morning, plenty on the sidelines but want in now after Monday's surprise RNS whilst others want to double up on their current holdings.