Member Info for MaverickD

Should be going long now, as I believe we will get details of interest in Kenya in a week. Brent holding steady and expecting another draw on API/EIA data - provides a nice platform for this to head back up!

Can see a tick up when we open today. Long from these levels, as even funds short have been closing in the last couple weeks.

@Shaml what are you on about ???
The Group's underlying operating costs remain less than $12/bbl, with Ghana operating costs at c.$9/bbl. With the benefit of the Group's hedging policy and production remaining on track within the Group's 70-80 kbopd guidance range, this results in a free cash flow breakeven oil price of c.$35/bbl for the rest of the year.

That is a copy and paste from the update!
Please check your facts

https://shorttracker.co.uk/company/GB0001500809/

Shorts have been reducing and will be buying up too

Lol go do your maths again and then come back - their debt was $5bil when the sp was £2.50 3 years ago.
Their cost per barrel is $33/34 and production is upper end of 77-80k
60% of that is hedged at $57.18 for 2020
40 is hedged at $52 for 2021
Deal with Total will bring in $575m for Uganda
Deal for Kenya is being slated at $300-400m

And re-rating on the cards here.
Guidance on production upper end of expectations
60% hedged at $57 this year and oil at $46 and likely to climb to circa $50
he worse is behind us - even Russia have stated that want a better oil price and will work with OPEC+ to build from here
We will have supply factors coming into play and a lack of investment across the sector

We were at 40p about 4 weeks ago, we have retraced 50% when oil prices have increased and we have the best hedges in the sector in my view (or very near the best). This has just been a gap fill and when this heads back up I expect a move to above 40p I know some here are thinking I would be happy with 25p right now, but look at the bigger picture. The update is around the corner - buy what you can at these levels

The dealers just went fishing lol........hope we get some Salmon!

MMs taking out the sells and will send it back up - I think we will see a Blue finish.

These levels are a solid buy for me......The new CEO is in place and news on Kenya could drop at anytime. This time next week I think some will look at the sp and think why didn't I buy or add more

I do hope some have bagged today......appears that this will now move upwards!

No I added more yesterday and trying this morning - this is just the gap fill

Tropical Storm Marco approached the Louisiana coast Monday afternoon, while Tropical Storm Laura is poised to strengthen into a hurricane Tuesday as it sweeps across the Gulf of Mexico before nearing the Louisiana and Texas coastline late Wednesday, according to the National Oceanic and Atmospheric Administration.

The region is the heart of America's fuel-making and chemicals corridor, home to nearly half of the nation's refining capacity, according to the Energy Information Administration. Roughly 1.5 million barrels a day worth of oil output in the Gulf had been shut off as of Monday, according to the Bureau of Safety and Environmental Enforcement, or around 14% of the oil produced in the U.S.

Should see production impacted and that will drive up short term pricing.

Appears the MMs dragged this a little lower to fill that 468k buy last night. Looking very cheap with $45/46 oil and 60% hedged this year at $57. looking for a move up, as this is now in oversold territory.

Just remember 12 months ago we were £2.50 and with one of the best hedges in the sector this is primed for a solid recovery!

Oil is going to surge......Hurricane in the gulf of Mexico upgraded to a category 4 - genuine threat to refiners now. Expect oil to be sensitive to the upside!

We have plenty of upside from here.......

I am sure that with an appreciating OIL price Kenya we will get a premium there. Although I think we could lock in further hedges this year and combining that with what we have we are in a lot better position than our peers. Production is strong and improving, with very little downtime. Give the CEO time and I think we will grow and pay down debt!

I believe we will move towards $50 and the SP should move sharply......EIA should have a positive and this hurricane adds that potential of a spike. Buy at these levels!

My min target is 32p