Member Info for MTSparky

RRE are currently earning ~$40 per barrel (and rising) for their oil and the gas price has been hedged. With a cash level equal to about £20/sh, the current SP will re-rate at some point.

“there is no way the oil price will shoot to $50 from here.”

......wait til June

They are now being lifted globally. The cuts in oil production are going to cross with a rise in demand sooner rather than later IMO. I think we could see a sharp spike in Brent price. Once Brent recovers above $50 which I don’t think will be too long you would think RRE will be back to £18. £££££££££££££

$50 Brent target 6 - 10 weeks.

Could there be a large buy order being played out? £10/sh.

1010.00 - 1040.00 (GBX) at 15:35:15 on Market (LSE)
Brent $35
;o)))))))))))

We're looking good Khun. Brent $34.82 +7.14%, FTSE 5978 +3.09%

only a matter of time before RRE bursts into life again...;o))

The Arran gas/condensate field (RockRose 30.43%) is located 240 kilometres east of Aberdeen, close to the UK/Norway median line in a water depth of 85 metres. Following the submission of a field development plan (FDP) to the Oil & Gas Authority (OGA) in September 2018, the field is being developed and operated by Shell as a 60-kilometre subsea tie-back to the Shearwater platform at an estimated cost of £300 million. Production start-up is scheduled for the first half of 2021, with gross output expected to peak at over 22,000 boepd (approximately 7,000 boe/d net to RockRose) from reserves of c.30 MMboe (over 9 MMboe net to RockRose). Hydrocarbons will be processed on and then exported from the Shearwater platform, with gas joining the SEGAL system and condensate the Forties pipeline system.

Pipelay works have commenced on the Arran field. #RRE

Brent $34.50 - +6.15%

Can see price rising into US open this PM.

...this morning. OPEC cuts and demand rise are really going help a sharp recovery in Brent over next couple of months. RRE need brent above $50 before we really see a big rise in SP IMO and back to cash levels. I am hoping though, $50 isn't that far away. We shall see !...;o))

Let’s hope so !!!

There is a real chance that the virus will burn out naturally before any vaccine is developed.

We are seeing a roughly similar pattern everywhere - I suspect we have more immunity than estimated.

We need to keep slowing the virus, but it could be petering out by itself.

Approx 18m barrels per day have been cut by OPEC. Oil price is going to recover fairly quickly IMO. Supply glut is over. Mid teens by June/July.

I can see Brent above $40 soon enough. Hopefully back above $50 by summer. Today will be a good day for RRE let’s break that £10 !!

Falling production and increased demand. £15/sh by June....;0)))

MM want shares that is for sure. Must be filling an order.

haha yep. Well if it breaks £10/sh we SHOULD be mid teens ahoy. #dontlistentome

.......just a feeling...;o)))

Companies with the necessary fire power and who would be interested in buying these assets must be thin on the ground. Companies that need the cash injection you would think would be numerous.