Member Info for scoobyrex

no he is a financial journalist that rights for forbes, nasdaq.com ect. He did some research on Aramco in 2016 that shed light on SAK's $10 cost position being BS.

have a look at articles written by Robert Rapier on Aramco financials, it shows that the $10 production cost is BS, and is some what bluster to keep the US & Russia concerned. When oil goes below $45 the Saudi oilers are losing money. Of course they could lower costs. Saudi Arabia needs $80+ a barrel to meet the fiscal costs of how their economy/employment works today.

Saudi Arabia production costs are not as cheap as you think. Aramco break even in 2016 was around $40 a barrel.
Saudia Arabia fiscal break even requires around $80 a barrel !!.

Even though the Saudis can take the price through the floor they are taking on debt/eating reserves to do it.

It is Russia who can blank last in this stand off.

US shale break even varies between producers but is typically mid to high $40's, which isnt far off what Saudi need as a break even on production. Aramco financials show they need about $45 to break even and Saudia Arabia need around $80 a barrel for the country to even keel fiscally.

Russia can outlast all of them at a low $30ish production cost, but it isnt in their interest to do it long term either.

The current price isnt sustainable for long, and with the manufacturing data coming out of China showing increase in demand this should turn a corner IMO.

it is ridiculous to hold the BoD to account when they made a "hopefully" statement before the corona crisis. The share price has been hit already I cant see it going down much more and have recently topped up.

The people berating the company want people to sell so they can but in cheaper, or trying to get people to sell to invest in the shares they are ramping. The people doing it are basic, no real evidence based justifications and it appears so far they are failing.

Hold, and if you can top up if you feel comfortable doing so.

DYOR

200k topup this morning. Hard not to at these prices.

Spoke to a couple of traders in the US today. General mood is dire with most predicting another blood bath next week.

Just cashed out of anything worthwhile FTSE/DOW/ND wise that I have bought/traded in the past few weeks. Down to holding just a couple of small cap stocks and Amazon shares bought in 2009. !!!!! BLOE is now my largest small cap holding and if it dips next week I have an arsenal to buy boat loads. If it hits my last top up price I am planning to buy every share I can get my hands on.

I hope they are wrong and the market rallyes. I have made money trading over the past few weeks on the dips and peaks. I would be happy to have to buy back in a rising market.

Is China fully re-open for business ?

Lots of postering and reassuring, putting a brave face on, but is it fully re-open ?

Zark shifting their holding to Euro Americas.

RNS incoming

please do not encourage him to come back.

The deal wouldn't of been structured this way last may when we were at 17p.
Schlumberger wouldnt of offloaded it in the same way, BLOE have taken full advantage of the turmoil with this deal.

now we just need them to make progress on the GAS infrastructure and start taking full advantage of the fixed gas price.

has anyone bought today ?

I have been trying to buy, but I am only getting quotes way above the ask. 4.8 ish.

the trades listed as buys today below 4.2. Must be sells. have you bought today ? what price did you bag some for ?

They can extract themselves from a country which is a small project for them, which they haven’t prioritised or invested in like their existence depends on it.

They get to consolidate for free, and have a number of lottery tickets for a company hell bent on making gas & oil in Georgia a success.

I’ve also put an order in for 226548.

That will bring my holding to a nice round number. Very round.

Till results next week........

Mind blowing big, still reading. Acquiring a substantial field for no cash and options based on a 3x current share price.

closed at 4.40 with varying services showing either 8% down, 1.15% up, bizarre. Will be interesting to see what happens in the morning.

I assume quercusrobor is trying to encourage Philip Dimmock to buy shares like the chairman of mccols.

They use their own investor/advisor, not sure if he works for a brokerage directly or uses one.