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Market Watch
Dow Jones News wires
U.S. Crude-Oil And Fuel Inventories Decline Again
Published: Oct. 5, 2022 at 10:48 a.m. ET
By Dan Molinski

U.S. inventories of crude-oil and fuels declined across-the-board for a second straight week last week, according to data released Wednesday by the Energy Information Administration.

Benchmark U.S. oil prices that were slightly lower before the mostly-bullish report was released turned higher afterward. The Nymex front-month crude contract for November delivery was recently up 0.5% at $86.94 a barrel.

Commercial crude-oil stockpiles fell by 1.4 million barrels, to 429.2 million barrels, and are now about 3% below the five-year average, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would rise by 1.3 million barrels from the prior week.

Gasoline stockpiles fell by 4.7 million barrels, to 207.5 million barrels, compared with analysts' expectations for inventories to decrease by just 1 million barrels from the previous week.

In all the time I've known copl this is the first time I've heard over here people speaking so positively about the company, the oil find was good in itself but the JV is what will unlock the true value of the asset and that's what many people are saying here.

Sorry they removed the link but it's there if you look for it on other sites ( don't want to mention their name as it will probably get blanked out )

Last night's presentation (well early yesterday afternoon for us here) certainly has got a few talking over this way.
Here's the link -

https://t.co/yWeY7GZEjA

I always find the more that people respond to "negativity" the more it is kept alive and spread around, so in the end it just does more harm than good for those responding and gives the negative posters a sense of purpose. Remove that sense of purpose and they will simply go elsewhere.
My life is all the better for drowning out what I call "noise".
The common ground everyone has here is that we are all here to make money ( hopefully lots of it ) and on the subject of money I was able to buy another 100k shares this morning more cheaply than I was hoping to!

I think on another thread (seems to have disappeared) that calamari chap was touching on the problems of financing and developing such a large resource and gave the comparison of GGP.
Well actually if my memory serves me right the shares in GGP over a period of a couple of years went from half a pence to over 35p at it's peak following the announcement of their JV with Haverion, so thank-you calamari for that comparison. Gives us a taste of what could happen here.

Morning all. I was informed yesterday that Canadian Overseas have been approached to do a Joint Venture. This I find extremely interesting and exciting especially taking into context the Billion plus barrel find that Ryder Scott also backed up. For the first time I have bought in here so apols with me being new to this forum.
There are a number of large oil companies that spring to mind, potentially I'm thinking Devon Energy or even EOG resources, with mcap's between $42Bn to $73Bn. I won't be posting too often but good luck everyone, I'm genuinely excited about this one!