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The only worry for me now is the price effecting the loan facility and our war chest? Will AA have this stitched up? Other than that I’m sitting tight.

Yep your braver than me duster. This is just Russia leaning on shale imo, they will come to an agreement in time.(i hope)
Munch that’s the price I thought a Billion is a massive amount of money in this climate and I fancy it’s chances.

New must have sold out Friday aswell

“The beginning of the end of oil being the worlds primary energy source”

LOL

2008 financial crash held oil sub 50 for 3 months and then worked its way up to $75 by the end of that year, average for the year ending up being around $60 for the year. Everyone needs to stop the hysteria.

I completely understand tones points made and they are correct, but that is the case for hundreds if not thousands of producers without the cash buffer we have,they would suffer before we do which would equate to huge production declines, so I just don understand how it would be possible to sustain anything less than $50 oil for more than even a few months let alone 12.

I do feel Rockrose carries this stigma of decoms because we have been so clear about them and it’s as if no one else has this expenditure.
I don’t even think decommissioning will ever be taken out To the extent of which the liabilities suggest, the uk would rather save billions on tax relief while supporting marine life and also allowing small cap company’s to create ‘hubs’ to utilise smaller fields which would otherwise be stranded,thus maximising oil revenue.
Then you have the issue of reducing the uks Co2 footprint, this will be done by hiding all our emissions back in the wells through the same infrastructure.

Not heard anything about that LW.nyou sure it’s just not the fall In sp adjusting the dividend to over 6.5%?

Didn’t mean to put in all them paragraphs.lol

I’d be very cautious about selling at these levels.
There will either be huge bankruptcy’s and drop in production to send prices back to the $60s or we will get some huge assets for massive discounts. Ask yourself what is a few months if you look at the bigger picture? Even if we averaged $50 until June it would hardly dint the cash pile but I could almost guarantee we would have bought something big.

Many people forget that without oil there would be millions of deaths not a couple of thousand off a virus, this stuff is essential to humanity being able to function.

Once shale is completely strangled it will struggle to raise capital for a very long time which wipes a huge amount of production off the slate taking up all the slack we have seen for the last 6 years.

I honestly am not worried here and I have lost around 45k in the last two weeks.

I’m going to stick my neck out here and say I think we are at the bottom now

Looking at Brent history and it rarely stays this low for more than a couple of months then seems to works its way back to $60. Virus or not will become irrelevant after that time frame,Massively oversold now in my opinion. If you take into account inflation and compare with prices from the past this is seriously low.

Right then,now that’s sorted let’s just get this out the way and find the bottom. Can’t be far off now

And no special divis , put the money to work!! If we got £5 the market would shaft us for 10 in a climate like this

Hasn’t the last fortnight just been lovley :-)))))

Most investors are right, just at the wrong time.-warren buffet.
Valuable little saying I’ve always remembered before jumping ship. Nothings changed her for me other than the ability to buy more for my money.

Our

Spirit bids will be coming in at massive discounts now or even removed. Really fancying are chances at this one

Duster, what exactly is fishy about RRE falling in-line with oil and every other producer?

If you were AA would you not make an offer for us even if you knew it would be rejected at least it would prop the share price up and protect us from being a t/o target?

I love the scaremongering here, we are falling inline with all other oilys. This is short term, sell if you have the balls but I certainly don’t.

And if not I’ll see you all at the food banks

AA can’t do much, the drop is nothing to do with the company, just buy more and laugh at the ones who sold in 6 months time.