Member Info for Proquo

*body bags

The world is down about 20 million barrels a day and the IEA wants countries to release about 400 million barrels of reserves to make up the shortfall and to suppress the oil price. Thats about a third of reserve. My maths makes that about three weeks' worth of easing of pressure on oil supplies. I'm sure the Iranians can do that sum, so they'll wait it out and then squeeze the Straits even more. I think many are starting to think that the only way to achieve the US and Israeli war aims is boots on the ground but nobody wants that. Trump certainly doesn't want increasing numbers of full body backs coming back to the US I the run up to the mid-terms. Bottom line, the Iranians actually hold the trump card - pardon the pun - if they resist long enough and they want oil prices as high as possible long-term. The political and economic costs of this scenario playing out are clear to see.

I also totally agree that a FO is absolutely the optimal way forward for us. But we have to be in a position to walk away from a poor deal, and then tick over and grow slowly until a gr3at deal comes in. I personally think we are in a great negotiating position now. Just a view, but thanks for engaging positively.

Totally agree about the wider economic impacts of high oil, Master. Not good for anyone, apart from Putin who needs the extra cash desperately. Unfortunately, the Iranians' strategy is to strangle oil supplies through the Straits to inflict real economic pain, whilst allowing their own oil to continue using the seaway to China. Who can stop them?

With respect Master, I totally disagree. Each full month at $90 earns us over $550K clear cash. Plus we have just received over a million bucks in one hit. Those are good numbers for us at this stage. We are earning way more than our running costs and could easily squeeze more from H1 and H2 by the end of May. Pluswe have the cash for the Gobi test and Sunsteppe might weigh in with a nice chunk this year too. There's clearly a scenario where we could go it alone if we are not satisfied with the farm-out offer. I've said this for months but it becomes even more possible if we have a few months of clearing over half a million bucks profit. Any farm-out deal has to be highly accretive to be attractive to us. I'm very patient.,

Would be great if we could up our production at H1 and H2 while oil prices are still high. We're clearing net around $18K per day as things stand so another 100-150 bopd per day in short order would be very handy.

Brent back around $93. Only going one way until the Straits of Hormuz are made safe for shipping. Iranians currently trying to mine the narrow shipping channel. We could be heading back over $100 a barrel.

Great comment fron Badprophet, seeing the light at last..

'I would call MATD either "strong" or "temporarily depressed" would you?'.

Excellent

Thought I'd re-post the email I received from the company a few weeks ago..Just because I can. I liked the word 'lucrative' in it.

Thank you for your enquiry

The farm-out strategy that we are pursuing continues, with talks ongoing with one of our counterparties for Block XX.

Heron-1 has shown that commercial exploitation of Block XX is lucrative and can be realised rapidly, with the upside potential of the block significant.

Our counterparty understands this and is working through due diligence processes as talks continue.

We will continue to update the market on material developments.

Best wishes,

Petro Matad IR'

Brent around 88 bucks atm.

Aramco warning of an oil market 'catastrophe' if the Straits of Hormuz don't open soon. That's 'catastrophe'.

The Americans confirm that they did NOT escort a tanker through the Straits of Hormuz, despite a previous tweet now deleted, claiming they had. Brent rising back to $90

Thanks for the info. Let's hope so. Atb

Oh yeah, it's on the Internet.. must be true then 'cos bloke said..

At current Brent we are clearing over $18K per day.

Your comment about David Icke is spot on Badprophet. That's the first post of yours I've ever recommended. It's frightening that people like Dusty exist.

Bid ticking back up?

I think we'll get an update tomorrow or Thursday. Maybe not the farm-out, but we might get plans for the new drilling season given that we're just a few weeks away now. Possible even something from Sunsteppe. So much news to come I the next couple of months potentially.

They really are the most egregious of anti semitic tropes. It's 1930's Germany all over again., like Fartage going on about George Soros all the time.

Ah, conspiracy theory central now. What you would expect on a bulletin board. Don't forget, conspiracy theories only exist to allow the stupid to believe that they are not. And Dusty sure is. We'll be getting into chem trails next..

This will come good, farm-out or not. It will just take longer but we'd keep the whole asset to ourselves. I'm with Velo, I wouldn't rule out an offer coming in for our asset now. Hopefully Buck has put the price up to any interested parties.

Lovely