Member Info for NewKOTB

Brent +$29 atm

Well, +12mins ..... longest mid-day one on SQZ I can remember ....certainly had a problem balancing. Don't think it would take much to move her.

BoT moved the SP down quick today once more from 76p to 69p in 20 minutes .....

Long old one today ..still going 6 min's and counting

Brent $28.50 atm

dana,

This is true and certainly a drag on the recovery ... so many posters have questioned why we say we have so much cash (+£20/share) against that shown on the last balance sheet, if true where did it come from .... ! The unfortunate timing of the Marathon acquisition was post these latest financials, hence not shown.

So, here for clarity, here's where the mountain of cash came from ;

p105 and p106

"receipt of US$320m funds previously held as a receivable from a Marathon group company"

https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2019/07/19124817/RockRose-Readmission-Prospectus-19-July-2019-clean.pdf

https://www.youtube.com/watch?v=Hks6Nq7g6P4

Was looking for a better close tbh. (+50p / +9.5%)

Shell / BP up more than +20%, SQZ up +14.5%

On the plus side, it's in the right direction now.

"China, where the coronavirus first emerged late last year, the government has announced that the city's strict lockdown will be lifted next month .... "

Great news, for China, the world and oil. The fight can be won.
atb

Should also help focus MbS mind too ....

"First death reported in Saudi Arabia:
Saudi Arabia has confirmed its first death from Covid-19. The victim was a 51-year-old man from Afghanistan, the health ministry says. The kingdom has the highest rate of infections in the Gulf, second to Iran, with 205 new cases reported on Tuesday, bringing the total to 767. It has imposed tough restrictions, including an overnight curfew for the next three weeks, to try to slow the spread of the disease..."

Agree, face saving one hopes.

After all, what economic measures can SA do to help the 'world' .... sell more sand maybe !

Think the Saudi's realized they can not wait until June for the OPEC meeting and I would hope, at the very least their 'contribution' to the worlds fight would be not to open the pumps and flood the market from April and maybe, just maybe, agree immediate 'economic' cuts with Russia and US.
Will this also be an attempt to build an OPEC++ for the future, god knows we need positive news on oil atm
Has Trump already 'leaned' on MbS, I would have thought so although Putin is the only fly in the ointment atm afaic.

Hope you learned your lesson .... this time, you managed to escape with your shirt..... only just, thanks to the FCA of all people !!

All that panic, posting rubbish over the weekend, calling me a liar as you realized that RRE was due to publish its results or worse still be suspend Monday and you had your short still open, all £400 of it .... you basically opened a short without doing any research on RRE what so ever.

So my call on you having a short was spot on.

Upside with RRE is way more than downside imo .... you should go long now. How about it?

"principal asset of oil in the ground is likely to trade at a very low price..."

At some point a floor will be put under POO .... WHO BY AND HOW and at WHAT PRICE remains to be seen.

Which is why imo, AA will acquire / merge with a low opex, well hedged, low capex, no debt, cash rich profitable UKCS company that it's primary asset base is GAS...... Now who might that be !

An oil price war is all well and good if you have a market to sell into ..... the market has fallen and storage tanks are filling up ...... makes absolutely no sense to do one now ..... have one in 12 months ffs. In the meantime pretend to shake hands ( oh, sorry not allowed ) .... kiss an makeup ( oh that's not allowed either ) .... oh dear we are screwed .

Think we need Boris to put tariffs on energy imports to help support home producers..... now

Why does the UK not act to protect their own.... every other country appears to do so.

Was that not to stop OPEC closing OFF the taps and hence driving UP prices !

Not pumping more as they intend to do now !

Was that not to stop OPEC closing OFF the taps and hence driving UP prices !

Not pumping more as they intend to do now !

So, using this oil hedge and existing Q1's, we are receiving average of >$52.00/barrel atm ..

Using just the 3,000 boepd hedge alone of oil production at $69, we still sit at >$37.50/barrel

Then on top, we have gas hedged, 40% of production split, ~63 million therms at ~45p/therm for the whole of 2020. Which is >200% of current UK therm pricing atm

Yet we are once again getting hammered on the markets today once more. My only theory is the market knows we are to pull of a big deal so want in at lowest possible price and using the current turmoil to make hay.

aimo

Sorry, closer to 250% .... was thinking of WTI ... :-(

Oh BTW ... more hedges .... be needing a full-time gardener soon.

Just found this, can not remember seeing it before :-)

"The Company entered into a hedging agreement by hedging 3,000 boepd of its oil production at $69 for a period of 13 months from May 2019.."

So another approx 25% of our oil is hedged at 300% of current POO

What are the FCA going to make companies do. Presumably put some sort of disclaimer in the footnotes of the preliminary ...... exactly the same as is there now in the full accounts !!!

Really don't understand what they aim to achieve from this. Will it not cause a further backlog for the auditors / accountants now having to review ones ready to go once more !! And does this only apply to preliminary financial, which we have issued btw in January .... not full year end which we are awaiting !!

"The FCA notes that the practice of issuing preliminary financial statements is common among UK-listed companies but is not required by either the Listing Rules or the Transparency Directive. Rather, the requirement is that companies publish full audited financial statements within four months of the financial year end.."