Oil has a big future27 Sep 2023 15:32
Big excitement with the Rosebank decision today, this from the BBC;
''The field is expected to start producing oil from 2026. IF drilling does start on time, Rosebank could account for 8% of the UKs total oil production between 2026 and 2030. Roughly 245million barrels will be produced in the first five years of drilling, with the remaining 55million being extracted between 2032 and 2051''.
These things take time don't they, especially off-shore. Not relevant to COPL I know, but reading that makes me totally at ease with what's going on with the COPL strategy (which HAS been RNSd if not under NDA). Now think of it, how many barrels do COPL have and over what incline? Domestic oil sustainability/production to consider in this dynamic.
It'll come good, the cartel who are in cahoots with the smaller bondholders are playing their game, even taking a loss at times because the overall profit is still there for them. Can't last, period. The PRB is very much where it's at, good to see the Rosebank/PANR excitement, as it very much re-inforces the bright future of oil, but I'll stick to Wyoming and continue to buy at these gift prices. GLALTH