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Also, I would suggest RRE may well consider, deferring large CapEx projects. Although, drilling costs will come down too as rigs and companies fight for business imo.

Think getting people to work from home is a little difficult should you supply the UK with necessary utilities and energy.

Water, electric, gas, telecoms ..... best drill my own water well, put up solar and wind turbines, stockpile bottled gas and save the empty tins of beans and buy some string.

Either the media and markets have gone mad or the government are not telling the whole truth. Either way, it's going to take sometime to repair the financial and economic damage this is causing.

As for SQZ, who knows if they have or had a deal in place and has now been put on ice, or will they still manage a minor miracle.

A BKR deal, with next to nothing up front and PSA will however be the solution I would like to see. Keep our +£100m cash and let it build. Most certainly NO debt please.

atb

So production will increase, prices fall, demands dropping, storage tanks are almost full as it stands, this would surely mean that fields will be taken off-line as there is no where left for the oil to go ! Shale producers will go bust, unless Trump props them up .... remember 'America Is Great'', not sure for how long though. Are we heading for the US Dollar barrel last swan song and China about to be crowned as the No1 world economy ? The beginning of the end of oil as the world primary energy source !

Gas weighted producers should still be fine as UK Nat Gas has remained stable over recent months, all be it at circa 22p therm.
We need Boris to put sanction on energy imports or tax relief to protect the home producers imo

What the he*l are they playing at ..... must have been some massive shorts opened by the Saudi's on Friday.
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Saudi Arabia kick started an all-in oil price war on Saturday, slashing the official selling prices for its flagship crude Arab Light by the most in 20 years, in an effort to push as many barrels into the market as possible.

The cut by Saudi Aramco, the state-owned oil company, came after the collapse of the OPEC+ talks a day earlier, ending the cooperation between Saudi Arabia and Russia that has underpinned oil prices since 2016.

The state producer lowered April pricing for crude oil sales to Asia by $4-$6 a barrel to Asia and to the U.S. by $7 a barrel, according to a copy of the announcement seen by Bloomberg, as the coronavirus erodes demand and cohesion in the OPEC+ alliance crumbled in Vienna.
The drop is the first indication of how Aramco will respond to the break up of the OPEC+ alliance. Talks in Vienna ended in dramatic failure on Friday as Saudi Arabia’s gamble to get Russia to agree to a prolonged and deeper cut failed to pay off.

"overshoot .."

Can not really believe the Saudi's logic tbh.

Must be some massive shorts on by the Saudi's et al....

When crude bounce it will overshot that's for sure.

Saudi Arabia kick started an all-in oil price war on Saturday, slashing the official selling prices for its flagship crude Arab Light by the most in 20 years, in an effort to push as many barrels into the market as possible.

The cut by Saudi Aramco, the state-owned oil company, came after the collapse of the OPEC+ talks a day earlier, ending the cooperation between Saudi Arabia and Russia that has underpinned oil prices since 2016.

The state producer lowered April pricing for crude oil sales to Asia by $4-$6 a barrel to Asia and to the U.S. by $7 a barrel, according to a copy of the announcement seen by Bloomberg, as the coronavirus erodes demand and cohesion in the OPEC+ alliance crumbled in Vienna.

Not to mention the destruction to pension pots !!

Weird how the USA 'enemies' are China, Iran, N Korea (South as close as you can get with workers moving between the two countries) appear to be the hardest hit ...... although not sure what Italy have done to upset Trump !

In 2009 financial crash Brent went from $140 / barrel to a low of $44 in 6 months.

Down almost 10% in a day is ridiculous imo

Yep, £45 Brent in 2016/7 inflation adjusted should be £49 now.

"Need a waiver and to spend $30m on a buy back.."

Yep, keep them in treasury, to be used when SP is a lot higher as part of share funded acquisition. Like many say, free cash atm.

Just as well SQZ are 80% gas, don't you know !

Watch Crude reverse Monday as shorts close, if not later this evening.

Crude down >8%, (>15% in 3 days)

"but the RRE trades are dominated by them?"

So too for SQZ, has been for sometime ! Co-incidence !!

AA needs to merge with another debt free cash rich, NS producer, get suspended, then return to market in say, 6 months imo

NOW !!!

An agreed merger with RRE would mean shares suspended and allow for 'delay tactics', if required, so they can pick when to return to the market. Maybe 6 months time would do me tbh

I find it hard to believe that our BoD have NOT been working on a deal, been 12 months or so since Mitch hinted at this.

Question is, is now the right time to conclude the deal.

PS Lets get BKR on the road .... pronto too.

Even at the current gas / oil prices, SQZ is still receiving £30/barrel, with lifting costs of <£10/barrel.

Its the US Shale that need to worry, with large debt and high CapEx.

SQZ, no debt, >£100m in cash ..... so no issues with liquidity here ...

Guess SQZ is the only company Peel have downgraded .... kitchen sink time very soon imo