Member Info for Phil164

All I know is that something surely has to happen this year to get the FI oil industry moving, if not I will seriously question if I am wasting my time with BOR and RKH.

Almost bought some more a couple of days ago...,glad I didnt, update now just over a month away, is this a sign of no progress?

Nigoil, I agree with your post, just pointing out nothing is guaranteed, that said the one thing I just cannot see happening is BOR just winding up and walking away, at the very least there must be some profit to be made from Darwin at this sp, just a question of how much.

Playing devils advocate it's worth noting drilling in the sfb has been problematic at both stebbing and humpback, humpback alone ended up costing close to 200m dollars to drill which basically finished FOGL.

I still feel like this year will be crucial for BOR, I have always felt Sealion sanction will refocus attention on the FIs, when that happens we must surely be entering a phase where BOR will either secure a partner or sell the discovery, and possibly wind up, they dont have to sell it for much to gain a huge profit on current sp levels.

I hold pmo so am aware of your posting history, certainly recently. I agree generally with your bullish views, just dont want to see this board become bitchy like the pmo one.

Nigoil, what brought you to this board, pretty sure you don't hold BOR, so just curious.

Hi Stepptoe, I view them not buying as a good thing, since they have said farm in negotiations are active, I would think they could only buy if there was no significant unreported progress or surely it would be insider trading, that may seem a bit counter intuitive but it is my gut feel.

Hi Flockton and Stepptoe, yes it is quiet, I do look at this board and the sp almost daily, so your thoughts do get read, just not much to add at the moment. Next update due 1st week April, I expect to see some progress then, hopefully. ATB.

Dont forget the break even for Darwin is at about 35 dollars per barrel, this is still highly profitable even at this oil price.

Remember hedge next year averages 70 dollars, hedge for this year from memory was around 55 dollars, bearing that in mind, and upcoming Zama appraisal the drop in sp looks mad. Anybody have any idea what Zama would be worth if appraisal goes well and pmo were to sell their share?

Stepptoe, I worry that our board will simply use the lower poo as an excuse as to why no farm out, but so much of what I am reading says there has been so little investment in new projects since 2014 we are heading for a real problem by mid 2020s

We must be close to the bottom with poo, shale output must surely pull back at this price of wti..

Trump has now added the Fed to the long list of people he is at war with.

Raising rates , 4th time this year, will increase the pressure on US shale drillers debt payments.

Read a while back TD saying pmo are cash positive with crude above 40 dollars, and remember 30% of production for 2019 is hedged at an average of just over 70 dollars,.

Yes, a happy christmas and hopefully prosperous new year to you Stepptoe, and Flockton and other long termers. Have been reading a few articles on the web about how US shale is still struggling to make money, apparently lenders and wall street are focusing on growth in supply and ignoring profitability, that cant last forever, we are already at a price of wti where shale starts to suffer, hopefully 2019 will bring another upturn, hope so, just bought some more pmo.

If something doesn't move next year I think the board have some serious questions to answer.

Will it finally be the year for border?

Trump being a fool...nothing new, how on earth can you write a law that dictates how much of a country's own natural resources it is to produce and sell.