RE: Acquisitions5 May 2020 23:28
munch,
"It’s also a shame we have reduced our wells from 7 to 3.."
If I recall, the drop in wells would not make that much difference to overall production, so conserve cash on drills means options elsewhere.
As for POO, think the recent uplift in price is down to shorts closing at ~$30, remember, when the spat between Russia and SA kicked the fall off ... on that day we moved from ~$45/barrel down to ~$33/barrel. Many shorts would have opened, been open, so would need to close out now if haven't done so. You are right, swift move up from $19 in little over two weeks is not going to be sustained imo. Lets see what crude inventories come in at tomorrow.
atb