Member Info for mattwales

https://oilprice.com/Energy/Crude-Oil/The-Pandemic-Could-Lead-To-A-Major-Oil-Supply-Crunch.html

yes plus Suriname drill confirmation start, trading statement (with hopefully an update of costs per barrel for 2021 and any more cash savings) and RBL redetermination.

more investors looking to keep these over the mid term will be coming in daily with oil starting to move to normal.
especially, with most seeing this as undervalued at 34.6p.

on larger than expected USA draws.

jubileey, they took down every post on the link, mine included.

I agree with you in regard to Biden who will certainly look to remove tax breaks, dump more regulation on oil.

How much remains to be seen but that uncertainly is leading to USA banks not lending to shale.

He will try to bring Iran into a nuclear deal imho, especially after bringing in his new CIA head who was one of the team negotiators on the original deal.

Iran themselves are aiming for about 2 million extra barrels of production per day by March yet they will need to gas inject etc to get wells running and US sanctions overturned. It is doubtful they will agree by then/iran can rush production up.

Once there is agreement OPEC+ will have to take it into account if they all want oil prices to continue to rise.

i think a huge spike up is coming whether they wait for the trading update or RBL remains to be seen.

Asian oil demand is expected to grow by 1.7 million b/d in 2021.

Given they expect China to grow oil demand 6-8% when indications based on the last 2 quarters are double digit growth and India is at 100% refining capacity it could easily be half a million barrels a day on top of projections.

2021 wont be the year Western oil demand recovers but well get at least half way.

The longer companies hold over capital investment which is still here till that demand picks up the longer supply shortages in oil will come 2022/2023.

correction doubtful with 1 million barrels a day removed from supply by the Saudis till April.

Tullow will be making bucketloads of cash at these prices and enough to start to whittle down the debt.

you think? we should be closing in on 50p.

slift, how are you working that out when slide 39 shows a 2021 cut in costs of 23% over 2020 from $600m to $460m???

https://www.tullowoil.com/application/files/5216/0630/0517/Tullow_Oil_plc_-_2020_Capital_Markets_Day_-_FINAL.pdf

slift, where do you get your figures from?

the capital markets day presentation makes no mention of costs with the exception of lowered operating costs for Ghana of $62m in 2021 over 2020. A drop in operating costs of almost 16% for 2021 in Ghana. Slide 13

Also drop in well costs of 20%. Slide 14

Also drop in overall costs $140m for 2021 over 2020 slide 39 suggesting $35 2020 oil costs will be 23% lower in 2021

https://www.tullowoil.com/application/files/5216/0630/0517/Tullow_Oil_plc_-_2020_Capital_Markets_Day_-_FINAL.pdf

at $50 Brent I was expecting a breakout here didn't happen, now at close to $55 still not happening.

At least the company will be making bucketloads of cash but not sure what it needs $60?

languishing behind minnows GKP, Genel and even PMO where the new shareholders get most of the company.

BoE are forecasting GDP growth of 7.25% for 2021 in the UK, how is that a depression???

but at least ur not in Zimbabwe...

https://www.aljazeera.com/news/2021/1/6/worst-nightmare-zimbabweans-suffer-amid-rising-covid-cases

South Africa 1.13 million cases, Zimbabwe next door 17194 cases just shows you the lack of facilities rather than a true account of covid reported figures.

nevermind, China alone will need around 1 million extra barrels of oil per day by close 2021.

no chance of depression they will print and print and print

Genel are very close now to Tullow in Market Cap....Genel slightly less than half the production.

With the rising oil price it makes it all an undervalued joke of a price.

at some point the shorts have to buy back and with Feb and March eating into oil inventories it will boost the underlying oil price.