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"Russia on Tuesday confirmed its participation in the OPEC+ meeting of leading oil producers set for April 9, a spokeswoman for energy ministry told Reuters.."

TFT, you really have not got a clue ..... just doing as you are told ...lol

It's not the amount that is being cut, be it 5mmboe or 15mmboe, it's the fact that co-operation over and above the original OPEC+ members signifies a new era in POO mgt. There will be cut upon cut until POO stabilizes at their agreed target, which would be circa $45 in the first instance imo.
Once economies burst back into life, we will see the true power of this strategic alliance.
aimo

That was some leap up in SP just now ....

Think we are due news, the rise over the past few days is not due to recovery in POO given UKNat is still uncomfortably low atm 17.9p/therm.

This is being driven by a leak imo.

Could be an excellent close to the week on Thursday.

atb

TFT, Put your short on now I say ...... do you have the gonads ... in fact do it on ALL O&G why don't you.. didn't think so.... lol

You have just been asked to try and suppress the rise for your bosses. Massive news due any day now for RRE next acquisition imo

You either hate or love Bloomberg .. only last week they were shouting about POO going to $0

"CEO who has skin in the game and is sharper than you or I ...."

Agree .... but a little like the questions being asked atm about the exit strategy for the virus .... what is AA exit strategy ?

There is no way he could sell his shares on the open market at circa 5000p (£50) So how would he exit ?

The only answer is to sell the whole company. But to do that not only do market conditions need to be right, but also the company does too. So imo, AA will acquire at least one more large UKCS acquisition via RTO that is able to operate in harsh economic conditions, plenty of cash, stack of FCF, no debt and shed-loads of organic growth potential. Bolt onto this several 'small' deals and you have a ready made package for sale most probably to a PE backed outfit in 2021/22.

Remember £50ps is a company valued at only c£650m, a company that could be producing >70kboepd, with reserves of >180mmboe and exceptional FCF .

£50ps appears a long way away atm ... though that can very quickly change as pre Marathon acquisition holders can concur.

aimo

Do get the feeling there is more to this reversal than yesterdays EoY and rise of the POO ......

Thursday would be a great day to drop an RNS.

https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2020/04/05221545/Annual-Report-and-Financial-Statements_2019.pdf
PLUS
https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2020/04/07075326/RockRose-Results-Presentation-YE2019-.pdf

See we have a few technical traders looking to, or have shorted this .... Think they are due to attend the Mad-Hatter tea party this week. lol

The OPEC++ will turbo boost the O&G companies, particularly those who have been dragged down with the market, even though fundamentals are excellent, ie RRE SQZ

https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2020/04/07075326/RockRose-Results-Presentation-YE2019-.pdf

danawinner,

"Agreed - at least £50k delayed trade..."

Well done ... £51k late reported

Would be wonderful to have a RTO on Thursday 4:30pm, just before long b/h w/e ..... or even better, the mother of all RNS's that would have the mkt rushing to get in on opening Tuesday.

SP was trying to climb all day .... but we had someone that kept knocking it back, time and time again but was careful not to drop us to far so control was not lost.

Many would have been waiting for the EoY financials to clear any doubts .... tick that box now, so no reason not to buy in.

aimo

Yes, I would say there is a large order or possibly more sub 800p that needs to be filled before we move substantially higher imo

Wrong board .... I think more like wrong planet !

Don't you just love these new avatars ....

Someone is using a lot of firepower to keep a lid on this atm

Looks like they are going for more too atm .... :-)

No evidence of a trade to cause that jump, so I guess we will have a large reported late trade today after close.

"Our take: As expected, RockRose has reported a very robust set of FY19 figures. The Company represents one of the most undervalued E&P’s in the small/mid cap sector in our view, currently trading at only 32% of cash. The Company remains well placed to navigate the current economic climate, with the business underpinned by a strong balance sheet, hedging, and management’s ability to reduce capital expenditure...."

They are still trying to pull it down .... before lift-off .... once POO cuts agreed, sub 800p will be a distant memory, forever imo

You were shouting from the roof how RRE was a bargain at 1400p "Occasionally It rains cash so make the most of it, it's raining now, 1800p+ of cash for 1400p.."