Member Info for Krakenoil

Offers in excess of 50p per share I would say, and that’s mega cheap

Who the hell would want to open a short or even risk losing profit when the SP has fallen into oversold territory especially when buyers are sniffing around, bargain buy price for Tullow has to be around £1b with the assets it has

I bet WTI doesn’t make it back into the 20’s ! We haven’t got a glut yet, still burning through 97m barrels every day, and declining fields across the rest of the world will offset SA extra oil, if they can actually raise production!
It’s all hot air at the min - Proof will be next month and then the US driving season will not be far away.
CV vaccine will be under manufacture and the warmer weather will be over Europe.

I cannot find a single media story covering Shale response since the OPEC meeting ! Surly this has to be the story the media have to report on.

Ammu you really think Opec haven’t been cheating during these so called agreed cuts ! I don’t think there is much more spare capacity to be honest. We could be very close (6 months) away from a supply shortage if shale declines, some US rig workers moaning on social media of being laid off on Friday, maybe a lot more to come

Assets worth approx $5b -$10b debt $3.5b
Still leaves a chuck of net worth up for grabs

God I hate predictive text Err

The media have reported potential buyers circling Tullow oil. I wonder what Tullow is actual net worth is right now ?
Worth a flutter ?

With net assets of $5b the bidding war could be aggressive. What would you be willing to pay for assets worth $5b ?

What this actually does is put a end to shale and it’s investment, I bet 30% of working rigs are halted tomorrow morning as what’s the point ? I can see US production falling off a cliff

Neil,
you need to shut up or be very careful, the FCA do prosecute people like you.

We ain’t got the glut, we still ain’t over producing like 2016, China consumption climbing back up towards 10b a day, the US still burning through 20m per day, nothing has really changed all that much, if things don’t get much worse over the next couple of months then oil will soon be back above $50

Shock out the way, oil may now have found the bottom, long way back up from here but as the short side start taking profit as nowhere left to go we might return to a less volatile oil price for the near future, hopefully Shale do take this seriously and start to act accordingly to help balance the market they have destroyed

Can you just imagine the moaning in the board room of all those shale oil companies today. I bet the IR phone is off the hook for most. !

The stupid thing is, the world is still burning through 97m barrels every day, Opec and Russia have all been cheating anyway. China coming back to full steam. We ain't got a returning glut yet, Shale capex reducing now, we should see oil move back up once the dust settles.

A big bounce is on the cards here. The market is waiting for the slightest good news. Could come at any min.

Well Neil Enquest didn't do to badly last time the oil price dropped below $50 and that was with a misfiring Kraken. Oil wont stay down here for long, I suggest you keep your got shut, stop trying to deramp and clear off. We all know your motive.
When oil bounces and that wont be to far away Enquest will be back above 30p and you damn well know it.

https://twitter.com/jkempenergy/status/1235883947705409537?s=21

That's it ! the bad news is out of the way, the market has now priced in Russia and Opec failing to agree on further cuts.
We are now in fully sold off territory. The oil price may bob about for a few weeks as the weather warms up and then slowly move back up as this CV starts receding and the media get bored of it.

Neil we had a similar Mcap during 2016 with Kraken sucking up every penny we had, So we are in a much better position than we were back then. Shale is now in the position we were back then but without the investors to help out. I see Shale capex falling off a cliff now and by Q4 Production down to around 12m maybe even less