Previous recessions have seen demand fall by 1.5%, Less than the supply shortfall we currently have. How is oil going back down the $65 as Citi back says is possible .... Noise that's all ! Unless we all get locked down again
Spin Pump prices are the problem not the oil price, Blaming oil prices are just a excuse for our terrible governments failure over their silly green targets. Why get rid of our ability to refine fuel in this country to reduce the carbon foot print and then import the fuel from another country. that just makes it worse surely due to shipping it. What a joke ! Open up the refineries and limit the TAX income on fuel prices. Give incentives to north sea gas suppliers so we don't relay on other countries for that either. Get Boris out while were at it.
Spin, Enquest is making big money, the SP movement is a opportunity to buy cheap, can it go lower defo but can it go much higher defo, will fundamentals eventually drive the SP valuation 100% Get this year's revenue banked is key to our re rate
Romaron, When I asked the question about the EP the answer was yes we have had bids for it but we are keeping it ! Basically Enquest have a plan for it and that has to be Bentley or Brassay or a tie in to both. EP needs to earn its keep and pay back its original investment costs. Buy the dips and dont let this opportunity go
RE: Another $2.5m FCF banked today02 Jul 2022 13:02
Regarding the fall over the last 5 weeks, I don't think its the WT that has driven the sell off as if you over lay most of the oillies including the US ones the pattern is the same, they have all fallen around 40% from the highs in May. All still making huge FCF and all will soon be paying out large Shareholder returns The market won't ignore that and the SP's will return to following fundamentals in valuing the returns. I still think we we hit 50p by year end
RE: Another $2.5m FCF banked today02 Jul 2022 12:58
So basically he will point the finger at anyone else other than himself due to his obsessions with going green to early and his extra ordinary TAX slapped on pump fuel and of course energy bills. This government is the worse we have had in 35 years, lies, deceit, corruption, parties and even hiding in fridges to avoid answering questions.
RE: Another $2.5m FCF banked today02 Jul 2022 11:27
Chilting the government will have to define the oil price where they remove the Levy (normal price is unacceptable) Oil prices from February 2005 have ranged between $30 - $148 So at $110 are we not still in that normal range ?
These markets have slapped me badly but its only profit I'm losing 3 months time this will sort its self out and we'll see mid 30's again. This is what happens when you have the Bots in the driving seat.