Member Info for Pelle

Good evening L3,
I thought my offer was very generous:-)
You need to add 2,5% in your favour for below 42,5. So 97,5% chance you win.
Anyway I never say no to a drink:-)

Next time oil and SP runs high, I will look into personally hedge oil downside.

Nice post Romaron,
By spring summer this will be beaten with season and vaccine.
Pensioners, why not go on two holidays.
Middle age, loaded with vacation days and cash. Let’s go holiday.

People might think world is prepared for oil consumption increase but it’s not.
Today and since 1 month I fighting to get goods out of China but there not enough containers and shipping.
They didn’t prepare for the increased volumes after corona wave 1.
Shipping prices increase by 25% from day to another.

Guess we “oil” just last in queue.
But on other hand no easy fix.

AB can blame himself for missing the easy part, hedge 80/70 oil last 2 years. Protect probability. Then we would not be in limbo now with RCF repaid.

But I am sure oil prices will spike sooner or later in next months.
And we might enter cycle with higher oil prices for 5-10 years

L3, I would like play that bet 1000 SEK.
If oil average more then 60 you pay me 20k

Hello L3,
Impressed by your details.
One other thing I have in back of my head, I think there was in H1 less then expected payment to BP for Magnus.
Maybe they balanced this in H2

Hello L7.

The breakeven points 33/27 Usd.
To this we should add approx 4 usd to get FCF for overall debt reduction.
That’s my understanding.

At current oil prices I see they can generate around 25m /month debt reduction + the PIK will go to RCF extra payment.
From Nov forward.
Then I have also considered Magnus .

https://youtu.be/PqR5FVMDN60

Copy in from swedish board.

“In the future, certainly we believe OPEC will be the swing producer — really, totally in control of oil prices,” Bill Thomas, chief executive officer of EOG Resources Inc., the biggest independent shale producer by market value, said earlier this month. “We don’t want to put OPEC in a situation where they feel threatened, like we’re taking market share while they’re propping up oil prices.”

The shale industry’s prudence, also echoed by the CEOs of Pioneer Natural Resources Co. and Occidental Petroleum Corp., means that production will probably flatten after a steep plunge this year. U.S. oil output will end 2021 close to 11 million barrels a day, about the same as it is now, according to forecasters IHS Markit, Rystad Energy, Enverus and the U.S. Energy Information Administration.

“I see no more growth until 2022, 2023, and it will be very, very light in regard to the U.S. shale industry ever growing again,” Pioneer CEO Scott Sheffield, who’ll run the fourth-largest shale operation in the country after his company completes the takeover of Parsley Energy Inc., said in an interview.

Barkindo also addressed the devastating impact of the pandemic on the world economy and the global oil market, noting that investment in the oil sector has declined tremendously.

“Investment dropped up to 30 per cent for this year, even more than in the 2014-2016 downturn, from which the oil industry was still recovering when COVID-19 struck,” the Secretary General said, adding that the oil industry requires $12.6 trillion in investment to reduce volatility and avoid a possible future energy crisis.

Enq already pay down the bank loan with 600m. If oil continue around 45-50 maybe they only can do 300m of the 385m remaining until Oct. Bank will be very happy extend the period. So no need ask shareholders at current prices.
And I bet it’s much more likely oil go to 80 instead of 20 in 2021/22.

Nice, I am thinking going near Jämtland in Jan/Feb.
Just weekend so no time for bike 1200 km

adding back more and more last days here and today too. close to 70% now.
Its most bang for the buck here.
will add another 10% for each 3 usd higher oil

lol, in:-) become funny

Hello Modestus,
Cool I wondered where you gone....where is Sweden.
You should have come visit:-)

London Gatwick Airport expects significantly more traffic next month when the restrictions are eased ahead of the Christmas celebrations.

According to CEO Stewart Wingate, the airport is expected to handle about 100 flights a day by mid-December. He told Reuters, CityAm reports.

Gatwick currently handles four flights a day under current restrictions.

The airport is the second largest in London after Heathrow.

Reno Santic
News agency Finwire
https://twitter.com/finwire

Complete madness x 2 with hedge.
2018/20
Hope AB see it

Bank of Pelle thinking Brent 70-80 next summer.

Hello L3,
Nice post!
I am planning go north 1200 km with my diesel jeep. Hope it helps too.
But what happened with FCF, did AB buy a company jet?
Offer he couldn’t resist.
Good hedge is limited now in future.

Added back here last weeks approx 50% holding now.
Tomorrow is Avance gas report and might give a quarterly dividend.
Been strong last days but will look for opportunity exit and go 100% oil

Saudi oil facilities hooked up with a robot

The ones I follow Lundin energy and Africa oil is basically same development last month.
If you compare with Tullow and PMO might be more speculative and company driven