Member Info for Rktech

You and me both mate.
The darkest hour is just before dawn.

C'mon Berta .......cheer up !!.......You know you want to !!!

Now whilst I have respect for Zak and his charts, we all know that like all small/micro cap oilers, this is news driven and will inevitably have a binary outcome.
The finance deal is positive and the asset is world class. If Arthur gets this over the line it won't have anything to do with charts or 0.2p projections.
The last time sharetalk put up a post it was their tame pundit 'oil man jim'........telling us we were all doomed.
Frankly I wish they'd just fc_uk off!!
Things look good and their is a momentum building that only needs some positive NEWS and we're off to the races.

Only 3 trades so far. Someone just sold 99p's worth of shares.
When you see ordinary ( not UT ) trades like that it makes you wonder if it's someone checking the real bid and they hit the sell button by mistake.....whatever.
So 3 weeks now and no news on the prospectus approval. Time goes on......Boredom goes on.....the beat goes on........YAWN.......ZZZZZZZZZZZZZZZZZ.

I agree with Guitar.
Consolidation would have wiped out existing shareholders and Art did not want to move exchanges but had no choice.
As a technicality....if there was any significant volume in Canada then the arbitrage traders would be active.
The cost of service providers must be at an all time low and so this still presents an opportunity to a forward looking strategic investor.
I still think Essar are the problem.

Cassiopeia is the PR company of Stephania Zabaglione.....or Macaroni or something.
She used to work for Parsons as PR years ago at Sound when it was still Sound oil and then set up her own PR outfit.
She'll pump any old dog so long as she gets paid.

Someone is buying up a big percentage of the company on the cheap.
Wonder if it's the Ruia brothers.......the little tinkers !

This double whammy of increased production combined with a downturn in consumption looks like a perfect storm to destroy the oil price.
Well of course it is and already the US shale producers are closing down rigs and the smaller ones may go bust.
In the meantime the Saudis need 80 dollar+ oil or their economy is going to be shredded and although the Russians can live with a lower oil price for a while their economy needs 40+ dollar oil despite all their posturing.
When everyone reaches an agreement ( Including of course the Americans ) which is inevitable we will see a return to circa 60 dollar oil and the smart money knows it.
In the meantime the Service providers must be hurting and so the chance of an opportunity like OPL226 is golden on so many levels to be turned down.
The Nigerian senate closing is totally irrelevant as the country hasn't closed for business.
I imagine there's a change of plan right now due to the current situation and this deal is going to take longer for sure but as the uncertainty diminishes things will start getting back to where they were......a V shaped recovery from a panic and opportunistic driven situation.

There are no historic posts. The entire catalogue of drivel seems to have been removed.

Demand for Service providers must be at an all time low.
This project is a golden opportunity for anyone forward looking.
I think Arthur may be taking the extra time to negotiate an even better deal but then WTFDIK.
If we were producing right now then cash flow would be an issue.
Quite how much I really don't know as I've seen various guesstimates as to the breakeven point but certainly nothing like the US shale producers who are surely going to start going broke and/or shutting in wells.......which will cause the price to rise.
Forget the production costs of oil companies for now and consider the importance of oil to the economy of a country.
As a country, Russia can sustain 35 dollar oil but the Saudis need nearer 80 dollar oil to maintain fiscal viability.
When a compromise is agreed, which it will be we can move on.
In the meantime the combined effect of the above having a hissy fit with each other and the global reduction in the demand for oil will probably see the price sinking down to 20 dollars for a while.
Less than that and it's probably not worth getting it out of the ground which will act as the required feedback to stabilise the price at least to that level.
In the meantime the service providers still metaphorically need to eat.

Changed the thread title as it's just not appropriate to have the name of that waste of space appearing all the time.
I haven't even bothered reading all of Bag's post but there seems to be some kind of agenda going on and comparing the likes of COPL to a major is plain ridiculous.
When the blue chips are down over 60% is it any surprise we are ??
I suggested last year to Cathy that putting the company on care and maintenance to preserve capital might be a good idea and she doesn't speak to me now.
No loss there as you only ever got PR platitudes.
Arthur should have considered it ages ago as the company has no debt per se and so if we just closed up shop temporarily or even took on sub contract work it would solve the problem.
This is a temporary thing and oil has a big future on so many levels that doom laden posts are just the kind of panic inducing cr_ap that fans the flames of this latest sell off.
Self appointed guru's know nothing but Arthur does and frankly it's about time he at least said something.

This is specially for Suhail

https://www.youtube.com/watch?v=e8sI_nDq2kw

Those of a sensitive disposition......please leave now.

Oilberta: Respect....... as we all know you are a VLTH and have a right to gripe.
FFS....We all know how dire things are......we really don't need to be reminded..
Please give it a rest.

Do folks get the impression that the price is now well below his buy in as he desperately attempts to ramp it ?????
Suhail has now become another LTH
Oh dear.....How sad.....What a shame.......Never mind !!

The global financial crisis of over a decade ago was caused by a cash flow problem...........It stopped flowing !
This is hype and full blown panic and fears of some ongoing global recession plus Russia seeing an opportunity to bust the US shale business and show the sauid's who's boss.
When this goes away....which it will and Russia and the saudi's have made up it will all be business as usual.

Could get a good deal from a service provider right now.
Can't be much demand for rigs.
Oil price will start rising when the US shale producers start going broke.
We're looking at least six months ahead in terms of oil price.

This oil price is just a temporary opportunity for Russia to try and bankrupt some of the US Shale producers.
It won't last long, the players are not philanthropists.
In the end a compromise will be agreed all around so everyone gets a fair slice of the cake and oil prices go back up to 60-70 dollar region.
It's a bit like the guy in the dentist's chair who grabs said dentist by the nuts and says.
" Now we're not going to hurt each other.......are we?? "
In the meantime here in the UK with the budget today I can see easy money for the government in banging 10p/litre on fuel and hope folks don't notice......that's my prediction for the day.

Correction:
Th price of Bonny Light is delayed 3 days. ie can't get an up to date spot price so would assume it is roughly the same as Brent.
Brent and WTI you can get an accurate figure on and Brent is now $35.5.
This is temporary even if we see further falls a price as low as this will not sustain the economies of the producers and so something will have to be agreed.

Bonny light currently trading at $46.
WTI at $32.
Brent at $36
Our oil in the ground is trading at a big premium to brent and all the players know it.

The increase in confirmed covid-19 cases is following an exponential curve in temperate climates but is declining in equatorial countries where the R0 is less than one. This means that the virus does not remain viable outside of a cell for long enough to propagate and it declines and dies out in temperatures of above 27C.
The biggest problem is that this is a new virus and there are no pools of immunity to act as firebreaks but things should have peaked by the summer and China has really done a great job to contain it compared to western countries.
Oil price is a nightmare right now for some current producers operating on low margins eg TLW.
This project would not be in a position to start producing for at least six months by which time things will have stabilised whilst in the meantime the lemmings will continue to run over the edge of the cliff and the smart money will be buying futures at bargain prices to sell on when the price has risen.
In any event we are due some news this month and I would think right now they could strike a good deal on a jack up rig.