Member Info for mystic1076

Not chiliting?? Who is that. I am new to this board and only done a couple of posts before this. Will trade this over 2-3 day time frames in the established floor and support levels.

And why publish an article?? This is not selling your company's prospects..but draws attn to concerns he has about the risks...

IMHO and as a qualified marketing expert by profession, this is an awful article. It draws attention to high net debt and covenants. Also very small no of remaining oil fields can easily hamper oil sales as operationally if a field goes down .. i.e if there is a covid 19 outbreak on a rig, this could have a huge impact. However trading this is fine in near term, not one to hold long term as too risky due to net debt, opetational and market risks. There will be no 50 or 60 dollar oil price for 2-3 years.

Investors take what comfort they can in the dividends of big oil majors, like Exxon Mobil and Chevron. So Royal Dutch Shell's dividend cut — its first since World War II — was unnerving for investors in the sector. The stocks of both Exxon and Chevron sagged Thursday morning after a week of gains. Both majors report earnings Friday, and dividend comments will be closely watched. Shell cut its dividend 66% to $0.16 per share. Its stock plummeted more than 11%. With energy stocks under pressure with this year, Exxon's yield is 7.4% and Chevron's was at 5.5%

Investors take what comfort they can in the dividends of big oil majors, like Exxon Mobil and Chevron. So Royal Dutch Shell's dividend cut — its first since World War II — was unnerving for investors in the sector. The stocks of both Exxon and Chevron sagged Thursday morning after a week of gains. Both majors report earnings Friday, and dividend comments will be closely watched. Shell cut its dividend 66% to $0.16 per share. Its stock plummeted more than 11%. With energy stocks under pressure with this year, Exxon's yield is 7.4% and Chevron's was at 5.5%

The market has extrapolated and priced in based on Lloyd's updates today. There is the question about how the bank has been impacted in Ireland. Also the investment bank will not have done as well as peers as its in wind down mode. Share price will probably hover around where it finished today??

market favours Barclays clearly at this stage. More diversified bank due to due the Staley casino bank!! Wild market gyrations should help barclays 2nd qtr this year as well. Overall think Barclays will still be profitable this year!! trading range, support at 1.07, needs to break 1.18 with strong volume for that to become the next level of support.

The media are sensationalists and in the business to create headlines. These were a solid set of results. The impairment charge is guesswork at this stage. Think of things logically. The banks have been able to pay billions more in PPI and fines over the years so even if the entire years of profits were wiped out not a big deal. Hold long term or trade for the near term. Any one who bought large quantities overnight with a view to this going up today, please DON'T sell.

Brent markets also rallied during the day but perhaps not in as dramatic of a fashion. The $25 level was previous support, and now it looks as if that area should offer resistance. We are still in a long-term downtrend and that has not changed. Quite frankly, somewhere around the $25 level I would be more than willing to put on the small short position to aim towards the $20 level again. The 50 day EMA is reaching lower, but it is all the way up at the $34 level, meaning that we have a long way to go before we even meet up with that indicator. This is a market that has no business rallying for more than a quick trade, and we certainly have already seen that. Fading rallies should continue to work as the fundamentals for crude oil remain negative.

Ronald Temple, Head of US equity, Lazard Asset Management:

“Today the Fed acknowledged that the devil is in the details when it comes to injecting massive liquidity into the corporate sector. In the three weeks since announcing $2.3 trillion of liquidity through seven facilities, the Fed has only lent $8 billion through one of them, the Paycheck Protection Program Liquidity Facility"

Ronald Temple, Head of US equity, Lazard Asset Management:

“Today the Fed acknowledged that the devil is in the details when it comes to injecting massive liquidity into the corporate sector. In the three weeks since announcing $2.3 trillion of liquidity through seven facilities, the Fed has only lent $8 billion through one of them, the Paycheck Protection Program Liquidity Facility"

Rising with the FTSE 100 which jumped from 1% to 2.5% - and this due to US GDP figures being released.

Article here says that Enquest may need a debt for equity swap if oil prices remain low!!!?
https://uk.finance.yahoo.com/news/resilience-independent-oil-firms-faces-165713193.html
North Sea producer EnQuest has been financing some of its existing debt with new borrowing, preserving cash flow now at the cost of a bigger debt burden later.

"If oil prices remain anywhere below $50 a barrel for an extended period, then we believe that EnQuest would have to do a debt for equity swap at some point," RBC oil and gas equities analyst Al Stanton said.

"(The) action being taken, along with realisations in the first quarter, are expected to lower EnQuest’s free cash flow breakeven to (circa) $25 per barrel of oil equivalent for the rest of 2020," a spokesman for EnQuest said.

"With no further bank repayments due in 2020, the group has sufficient liquidity for an extended period even if oil prices were as low (circa) $10 a barrel.”