Member Info for PAD004

I am reasonably good at calling bottoms but definitely off when it comes to calling tops! That's my issue and happy to hold unless something obvious presents itself. That said, I did not predict the response the OPEC plus decision which stills grates, especially buying in at 8p and 10p.....and higher.....

I would be surprised if this does not hit 6o+ by end of September this year, assuming lockdowns ease and go to plan. There is so much supply capacity being cut and will continue to be cut which can not be turned on that easily. personally, I believe the $40 a barrel figure being discussed by some commentators later this year will go much higher. It went down very quickly and my instinct tells me it will rebound very hard as well later this year. Not good for petrol prices though!

https://www.tullowoil.com/application/files/5015/8807/1195/Tullow_Oil_Overview_Presentation_-_April_2020.pdf

Available from their website and published today.

antharry-I don't disagree and if I had sold before the OPEC plus decision and bought in again and done the same with the recent announcement then I would be sitting on a lot more shares than I currently hold. The volatility will continue imo although the trend so far is up. A nice dilemma to be faced with!

Yes, there is volatility here but the danger of selling on a perceived high is you miss out on what will be a lot, lot more than high 20s. It just takes one market driven announcement such as additional cuts in the supply of oil or some conflict escalating and this will hit high 30s and beyond before you can blink.

Well done to all that got in sub 22....

MK-Any news you get from these types of sites is old news. Iran unfortunately will be picked up by the news agencies shortly. A combination of the virus being underplayed and much worse allowing for extremists to gain ground. Search twitter with #iran to see what is going on. Not good I have to say.

That allied with the rise in oil overnight about to take place and optimism over lockdowns will drive the SP up tomorrow.

Ready to eat my words if this is negative tomorrow evening and anyone feel free to state this to me...but nicely please.

oil on the rise

Optimism over lockdowns easing

And unfortunately the below from the IRNA this evening:
https://en.irna.ir/news/83767289/Any-illegal-provocative-move-to-receive-Iran-s-rigid-resolute

SP about to head north irrespective of European oil major results imo.

Shpunken-that's good news for the SP. As soon as action is taken, which will have to happen the SP takes off upwards.

Should have added topped up again sub 22 this morning.

In fairness to Laidback there are different strategies at play here. Selling at 32 or thereabouts was not a bad move! Wish I had the foresight to do similar....

Two key variables for oil prices to consider in the immediate future imo. Both funnily enough with the USA playing centre stage. Firstly, what happens with the stacked up tankers off the US coast. Secondly, whether tensions between the US and Iran continue.

PMO is waiting on news and that is why there is keen interest, including from me!

There are those in here who are looking for a low entry point. Is Tullow worth 22/23p? Absolutely and a ridiculous question.

US oil, gas rig count falls 76 on week to 491 after record-low crude price

HIGHLIGHTS
Oil rigs made up most of plunge, down 73 to 371

Natural gas-oriented rigs down just three to 120

Rig count has lost 41% of volume in last four weeks
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/042320-us-oil-gas-rig-count-falls-76-on-week-to-491-enverus-said-after-record-low-crude-price

US oil, gas rig count falls 76 on week to 491 after record-low crude price

HIGHLIGHTS
Oil rigs made up most of plunge, down 73 to 371

Natural gas-oriented rigs down just three to 120

Rig count has lost 41% of volume in last four weeks
https://www.spglobal.com/platts/en/market-insights/latest-news/natural-gas/042320-us-oil-gas-rig-count-falls-76-on-week-to-491-enverus-said-after-record-low-crude-price

A very interesting RNS.....

I suspect this will keep going up. Not the Friday dip that some might be hoping for.

Yes but this will go up over the coming weeks so try not to fret too much.....this will come good

Typical. I removed 25% of my holding here last thing yesterday because I was a little over leveraged here for my liking (sub 16 average). Hindsight is a wonderful thing!