Member Info for Krakenoil

The market is clearly showing Cairns bod what it thinks about that shocking decision. -5% already

I still cannot understand the logic behind this terrible decision, Cairn can afford to keep both Catcher and Kraken while investing elsewhere , what's the point of selling those assets for less than there net earnings ? No point having the cash sitting in the bank earning nothing.
The market is unimpressed.

Tullow’s results paint a positive picture let’s hope ours does as well

Let’s hope so

Looks like another rough day coming oil down over 1% again

API
Crude +12.792M
Cushing +0.295M
Gasoline -8.499M
Distillate -4.796M

Daily Demand is currently at 94mbs if you think Opec members aren't cheating then think again, Most will be supplying as much as they can. US production has not returned to pre covid and may take at least another 12 months.
As demand rises towards 100mbs in Q4 We are in for a supply shortage.
But for how long is the question ? Its all the mid cap oil companies around the world that are seeing declining fields and production falling away and not having the funding to replace it, this is where the short fall will come from.
We could see between 5 -10% short fall - $100 wti going into 2022

£1 would do me as well lol

They now owe $1.7b - If Cairn were to receive that in a single payment then Blimey how high would the Mcap jump .

The market hates it ! No other explanation, if it had the slightest positive feed back we wouldn’t be -9%.
Sometimes you get a slight over reaction but not today unfortunately. The market hasn’t received the new well at all.

Most of the production is Gas - Worth Almost nothing

They Jumped the gun i'm afraid , Jumped ship without looking into the future. Oil prices now make those assets worth double what they have been sold for.
How bloody stupid

Brent is $68 - Both fields returning massive profits , The assets return more than the sale price in 2 years at current oil prices

I don't understand why they done that, Pure and utter madness ! They would earn more money keeping it than they sold it for.

Madness ! What on Gods earth are they doing

Reading the news last night and seeing the attacks on SA oil facilities again my first thought was Blimey oils going to shoot up tomorrow but then I thought actually this is bad news for oil prices as they will all short the shat out of oil now pushing down the price for no real reason........ And here we are.

Hi Jan,
We are still worth more than 30p currently, good results and $70 brent we are worth 40p

Consolidation . Laying the groundwork for the next move towards 30p

I wouldn't want them to do that, get the debt down as fast as possible.

China’s imports rise again.
Jan-Feb 11.13mbpd