Member Info for Krakenoil

OPEC compliance to the cuts agreed were below 100% a couple of months back and that didn’t hold the oil price from rising ! Now going back to 100% from 150% may only be possible by Saudi ! Russia may be able to add but I don’t think they actually dropped production anyway ! Supply can’t meet demand at the moment so I expect the price to climb back towards $80 within the next 10 days. Oil inventories have dropped quicker than the cuts from OPEC and non opec planned ! So demand is much higher than expected ! Wait for Iran to lose a million Bopd and I think $90 is possible!

How many times over the last year have we seen the news change one min oil is going back to $30 then we have a supply shortage and oils going to $100 now opec open the taps oils going back to $60. Next week it’s going to be opec are sticking to the cuts until 2019 and oil will climb back to new yearly highs ! Oil market games. Take the opportunity to buy at the level we are now !

Very true, sell on news weather good or bad so over exaggerated by all the “This is how to trade” by so called experts! Just turns the market volatile ! Probably orchestrated by the large shorters !

You just plucked up or down out of thin air ! The day before you were singing Enq from the hill tops, then cos you sell out you bash it ! The fundamentals with Enq are still bullish so I still call you a nob ! And you now moaning about PMO crashing down ! Couldn’t make it up !

We need it now more than ever, a panicky market is worse than actual bad news ! Think that’s what we have seen with Enq over the last week ! But fundamentals have to set the price over time.

Hydraides and you went on the Enq B.B. and basically took the p is out of the LTH over there ! What a nob you are !

How far will oil drop today that’s the question! PMO will be stung badly tomorrow same as the other oillies ! Well done Opec you’ve wiped off $5 already before increasing production!

Brent crashed now $75.1

Looking at the major shareholders here today, a few have sold percentages in March but other than that the rest have held firm, none increased ..... yet ! Perfect timing to have increased over the last few days and maybe time to add at the level we are at now. Made me laugh looking at Barclays holdings, considering there stupid rating they didn’t sell ! Strange ! What was worse the amount we hold, we should be on the fund board ! Lol

On those conservative figures I still get around $400m gross profit !

And realistically best case scenario is ?

Now say world stocks are 20milion barrels below the 5 year average and still falling ! We are now facing a supply shortage that may well spike the oil price ! Not much spare capacity to fall back on ! How cheap is the stock !!!

OPEC’s Aim was to raise oil prices ! They have done it ! They won’t let it drop far from where we are now, $80 Brent is probably the target give or take $5. If oil drops back into the 60’s then we are going to get a huge spike in the next year or 2 as we are at the all time lowest of new oil finds ever ! Without higher prices exploration is not viable. Shale’s debt’s are too high for low oil prices, the banks want higher oil price so the loans can be serviced, Saudis need higher prices, decommissioning need higher prices ! No way will they let it drop down again just because Russia are happy with $60 oil !

Enq so oversold at 33.5p, with Oil at current prices, the SP is way too cheap, was still way too cheap at 44p. Debt falling, cash flow increasing and Magus just round the corner. Enq has to be a strong buy ! No idea will happen if Enq do actually start the share buy back once the magus deal completes !

Got a sneaky suspicion that Enq may well bounce straight back into the 40’s ! The Magus deal is a game changer for them. Kraken farm out imminent will certainly take a huge chunk of risk from Enq. Then I think it’s 50-50 between Pmo and Enq as both will rise at the same rate towards 2019. But at the moment Enq looks like the biggest potential short term !

I sold Thursday when Enq tanked ! Shame I didn’t sell Enq as well ! But thought they were over sold at 37p how wrong was I ! Anyway I used the profit here to buy more of Enq yesterday afternoon so let’s see if I called that right ! I’ll wait for this to drop down or Enq to catch up before taken another position here. Fundamentals are great but the sheep all run for the door so you have no bloody choice but to follow ! Won’t be long before they all run back again !

We’ve certainly felt the pain here with Enq ! Sounds like we are going to feel even more with opec and Russia opening the Taps further ! Russia happy with Brent at $60 ! Don’t think the Saudi’s agree with that ! We just need Enquest paying down Debt as fast as possible!

Sold out of PMO yesterday as taking such a hit here, the risk of them following was high ! At least I called one out the 2 correctly ! PMO profit I used here this afternoon. Let’s hope we are now at the bottom! It’s now way oversold and looking at the larger buys this afternoon we should be. Saudi still need $100 oil, at current oil prices and the volatility I doubt many oil companies can afford to invest let alone spend on exploration !

Jan that the thing about it. Takes bloody months building the SP only for it to be knocked over in a day or two. It’s just like playing snakes and ladders ! I think if AB cannot attract II’s back in then a share buy back is his only option to bring relative stability to the SP !

Come on Enq let’s make this afternoon a winner ! Back to where we started would be lovely!