Member Info for oiluser

How do you know when 700 employees are not required to notify, only directors etc are

most exploration wells are plugged and abandoned.

Jesus wept, I get being wrong footed is something of a pastime for you:)

you must be a bit concerned all the same, with 1% of trading account requiring your 44/260 posts in 30 days

good luck

It's a bit of an obsession with you happy, I seen a few like you on the boards before. Its confirmation bias, you shorted and everything has the fit that strategy. Good luck

you are boring though,

everything is just ducky, happy

The only possible reason for a build is the sale of 10mbo from the SPR, which will no doubt end up in Cushing.

How will it reduce debt unless their converted? And that's unlikely as the conversion price was close to £2, jesus. If its paid it's from cash and headroom. Reduces debt, reduces head room.

unlike many here, who are singularly focused i see TLW having problems with the bond holders, or at least the convertibles.

$300 million due July, one holder has a blocking stake or so its reported. They are looking for parity to convert, and were way off the money. if i'm not mistaken SP today is about 1/3 of the issue price. so how do we deal with that, barring a massive rise in SP. some here have said that the banks will permit the company to pay out, but somehow i don't think so. i wonder why Odey continues to raise short, are they investing in these convertibles, is there some arbitrage going on. PMO had a problem years ago with converts, and it ended up causing significant dilution albeit reducing debt somewhat but ......

would like some real opinions on this, not the drivel from the fanatics

you are 100? correct, and that is a concern. but its a risk that all oil companies make, last year we benefited this year due to sentiment and macro changes we will likely lose out if upside revenue is capped by hedges, it all depends on actual sales. so we wont know about it really till late in year, but if oil remains above 70 and reaches 100 for example we have some exposure to that. i usually use 50% as exposure but now i will use 40%. i do hope that this frenzy on oil lasts a while, but watching over past 7 or 8 years they magicians in finance can do what they want with it, policy, war etc also impact. i reckon oil over 80 will hamper the recovery of economies, its certainly irritating the indian's at the moment, so 80 will really **** them off.

long term i see oil going very high, as it will achieve the reduced travelling that the green lobby is after

right,

Tuesday there will be monster draw in crude storage levels, Wednesday it will be confirmed. SA/Russia posturing. Both want oil over 70, 80 ok too. I'd be a bit concerned a out that short trade ur in. 10th March rbl confirmation, oil well over the levels noted in plans. Drill coming up, tlw due luck at the bit.

It's doing ok, think that next week will produce monster drop in oil inventories with push to 70$ / Bbl. This will break 50 and results and RBL confirmation the following week will see this safely over 50 and nearer 60 hopefully. Then fingers crossed for drill, and tlw are due some luck with the bit

They likely picked up some more bonds and then increased the short. I think this is risk mgt only

I think squeaky bum time for anyone short oil, were in build season and it's all draws. US likely see massive draws this week, I see oil 70 this week.

Wont most leave when the finances are rolled over, obviously we need oil to stay above 55 too but I think that's looking like less of a concern as it does look a bit like the USA has been hyping their production numbers for a few years now. The stock storage levels just dont add up to scrutiny with the low demand for past year. Note oilprice wondering where did all the barrels go, well it's simple. They weren't there

How? They are more expensive barrels!

Surely any company adding and reducing a short is doing it as a hedge. So they own bonds I assume.