Member Info for Ovets

Oil is quoted in $US, so you should be able to work that one out for yourself

Who would you rather believe, the Rabbit carrot nibbler with his 2 million imaginary shares, bought for a few pence and his £700k cash burning a hole in his pocket (but he still has time to waste posting borrox here), the Ralphy, who's admitted he's cocked it up and now furious at his stupidity, or look at what's happening in the real world?

The UN Climate Conference can't get agreement on fossil fuel usage cuts, new coal mines being opened across the globe, new oil resources are being sought and exploited, governments attempting to achieve energy independence from the villains who currently control things, failure of new nuclear technologies, renewables definitely making progress, but not entirely satisfactory and unable to keep up with growing world population and its energy demands, and idiots post rubbish here about the demise of energy prices.

The real thing to worry about is the stupidity of humans (illustrated on this BB) who can see that world climate change is probably already irreversible, but not prepared to give up anything if that means giving up comfort and higher standards of living.

Eff off!

Christ, you lot are proper rays of sunshine, but I wouldn't waste time if I were you, as I have it on very good authority that the End Of The World is the day after tomorrow.

Godders, as you took the time to make an ill-informed prod at me, maybe you could at least acknowledge my answer, including the fact that you completely misunderstood my situation.
If you're going to prod others, at least make sure you have the facts right first.

Of course I'm perturbed by the sp, but I didn't buy at £3, £2, or £1 and then hung on as it crashed, I bought at 25p in 2006 and sold at about £3.50 in 2010, then bought back in at sub-20p.

The likes of Ralphy probably bought at £1 or above, and lost all his savings, hasn't told the Mrs yet that he's lost most of their pension fund and, of course is very angry, but instead of admitting he's been a tit, he takes it out on everyone else in his bitter & twisted posts, including fellow shareholders, which is nuts.

Yes, I could have made a lot of money elsewhere, but I'm actually doing quite well enough here, where I understand exactly what's going on, so why go betting elsewhere, when I'm doing OK here?

Those who've lost a shed load probably can't understand that there's money to be made here right now, if you know what you're doing.

Bugger off Ralphy until you have something worthwhile to say.

Love the clip, but wasn't that Fred The Shred sitting at the desk?
Just checked my account and it's still all there, but thanks for the larf!

P.S. and in case you're wondering if I've bought the tickets, yes I have - they're called RKH shares!

Thanks oilfieldhand.
I haven't time to waste chasing some scribbler who doesn't know the difference between FID and sanction.
Much of the rest of what you posted from Rigzone seemed to be paraphrased quotes from what TD had said in about May 2018, so is now stale buns.
If what you posted is correct, several professional industry commentators would have had something to say about it by now.

This project is too important for everyone involved (including shareholders) to get it wrong, so I agree with Comertoes that legitimate delays may have to be expected, accepted and almost welcomed, if that means the difference between success, or another Deepwater Horizon, which would probably finish-off the FI region, once-and-for-all.

In the mean time PMO can look forward to a hopefully glowing Zama-1 appraisal, which would support their asset register and RKH can look forward to some good news from Egypt and the ECT judgement, so while I'm not off to the races just yet, I'm certainly pressing my trousers, polishing my shoes and brushing my top hat!

No I don't Fgawdsake and certainly not by the ludicrous postings of idiots such as yourself, never supported by any facts.

However, the constant stream of such posts by a handful could just influence the occasional ditherer and whatever the reasons, I'm just advising Nigoil to take advantage of it as I am.
BTW, keep your nose out of my personal discussions with Nigoil, unless you've got something worthwhile to offer.

Nigoil, of course I never got that link, or whatever, from oilfieldhand as he was just making it up to be interesting.
As for Fgawdsake, don't let him wind you up, but do take advantage of the exceptionally low sp these clowns maybe helping to create.

If, like me you know this is a winner, take no notice of them, just smile at their idiotic comments, which are never supported by any facts, or even by credible opinion, which takes us back to oilfieldhand, who has actually made a bit of a tit of himself by posting such blatant rubbish.

If PMO intend selling their share of Zama-1, which looks increasingly likely and is the general rumour, then of course they're going to wait for the appraisal report before letting it go.

Whether that is linked to the Sea Lion FID (i.e. how much they get for Zama-1 will determine how much more they need to borrow), or whether they go ahead and announce FID regardless of Zama-1 is anyone's guess.
I suppose it depends on just how desperate TD is to get SL into production, whether any service contracts might expire if he delays the announcement and maybe pressure from FIG to get on with it.

Anyway, assuming TD meant what he said on 23/8/18, that FID would be announced in 3 to 6 months, the Zama-1 appraisal report might just about be ready in that period.

Before we all explode, I'm still waiting for oilfieldhand to give us chapter & verse about his/her astonishing "quote", made earlier this afternoon.

The explanation: "Mogger, the article was on the "Weekly Logix" news sheet from RigLogix which is a subscription site" simply won't do.

If what he posted is true, then it would have justified an RNS announcement, particularly as TD only gave a Trading & Operations Update on 15/11/18, where none of this was mentioned. Don't you think other commentators would have thought this worth a mention, as it would have a VERY serious impact on PMO's ability to pay-down its very substantial debt mountain?

I say that this a load of borrox!

oilfielhand, did you provide us with the link to this stuff?
I've searched and can find nothing, except that what you quote looks more like paraphrased mis-quotes from earlier statements this year.

Here's something to contemplate:
While the the UN's Climate Change conference meets in Katowice to try to finds ways to implement the Paris Agreement, President Macron (in Paris) has just capitulated to the demands of the Gilets Jaunes demonstrators by cancelling the increase in fuel taxes in France.

One day, we may all look back on today as THE DAY when Macron set the standard for other World leaders, trying to curb fossil fuel emissions and failing.
OK, the tax increases were to raise money (that's what taxes do) , but there was also a green component, which has had to be abandoned.

So if you're wondering what's going to happen to the POO, today may just have signalled that if/when the population demonstrates against higher fuel prices, etc., governments will be forced to give-in, until the World's climate is so unbearable that it'll be too late anyway.

Conclusion: TD will announce FID quite soon, possibly even before Christmas, but certainly early 2019.

It's not just electricity generation, although that's pretty big - it's also the entire transportation system, land, sea & air, which still almost entirely relies on fossil fuels.
Electric cars & hybrids are coming along, but not good enough yet, particularly battery technology - heavy, inadequate range, slow to charge (even if improving), performance drop-off after a few years' use, consuming scarce resources, etc.

I'm not saying this should be used as an absolute comparison, but it is something to go by: the price of coal.

Coal's finished, had its day, etc., but look at its price now, actually a lot stronger than one might have imagined:
https://www.indexmundi.com/commodities/?commodity=coal-australian&months=360

Whether you like it or not the World's economic model relies on expansion, with a growing population.
Successive governments in the World's richest countries were promised by the scientists that limitless almost free energy was just around the corner (mainly fusion, but there are others, which don't work either).

So burning fossil fuels could easily be tolerated until the free energy bonanza was achieved in the next 30 to 50 years.
Problem is, it's all gone a bit wrong, because that 30 to 50 years is still quoted as the target more than 50 years after it was first quoted, still with no almost-free, limitless energy and renewables struggling to fill the gaps.

So if you look at the current price of coal and the increasing demand for energy, I think you'll have to concede that burning fossil fuels is going to continue for quite some time, with oil and gas in demand for decades, with correspondingly robust prices.

Did you notice that Sir David Atenborough got only a warm(ish) reception in Katowice yesterday, which said a lot about any commitment to meet the Paris Treaty conditions.
Sorry folks, but it looks like we're a bit buggered, but on the bright side, that looks OK for RKH, so with the proceeds, we can eat drink and be merry before the planet goes up in a puff of smoke!

Glamrocker, completely agree about the pinch of salt, as long as some unsuspecting novice fails to take that advice and places a bet on the strength of their rubbish.

Yes Nigoil, these bastards post shameless rubbish, never supported with reasoned argument and if you challenge them, or post opposing views, they resort to insults, so I've learnt from them and will in future give them their own medicine, which of course, they don't like.

Shameless de-ramping