Member Info for shamI89

24.5 and from there it can go upto 27 or go down to 23. It kind of depends on sentiment, I am expecting some sort of bounce as price crashed around 16:00.It looks like a hell lot of retail money is ready to move into this tomorrow.

It went lower than 65 as I kept on adding more and think I bough last tranche around 48 level.

I am 100% sure , Anglo American was trading at somewhere 267 something.However point I was trying to make is that in these sort of environments market tends to overreact.

Dont think that would be the case but we will see.I am pretty sure that it wont stay around this level

I remember hiting it that level as I was trading it st that time.

Lets see as I see this recovering to 30 by Thursday but we will find out.

And opened around 36 very next trading day if I am not wrong.

Premier was carrying same sort of debt if I am not wrong.There is no point in arguing let tomorrow come, NAV is 10 billion, debt is 2.8 billion and equity is 300 million.I am relaxed as I have seen it happening before so wont worry about that.I see limited downside and potential upside is huge.

Russia made a prudent move, if they make a cut they would lose their market share and this time issue is corona virus.We will find out .

We had an update in January and dont think anything since then has changed that much to warrant this change.Anyhow this update would confirm that everything is same as before and nothing has changed.

Only GKP and that had to do with the way they were being paid, KRG was fighting an expensive war and that brought down GKP and Genel as these were producing cheapest oil in the world but what good is that if you dont get paid for it on time.It was only after demise of Isis that Genel recovered.

This is temporary , I have seen oil hitting 30 level and people panicking, premier oil was in worst condition than tullow.It hit 19 and then bounced back strong , similar things were being said about premier too.It went on to hit 1.50 mark after a year or two. Anglo American hit 2.2 , Glencore hit 39 and there are many examples.Now is the time to pick up bargains and then come back later to find out you have doubled or trebled your money. There was oil Glut in 2014/15 and it lasted until 2016/2017.This time demand is there but corona virus has crippled the world economy so we may not have to wait for one month as everything would be back to normal.This has become too cheap and would be taken over soon. Their Ugandan/Kenyan assets are worth 2 billion according to some analysts.

Not really Ugandan assets and Kenyan assets have not been developed yet and 22% of tgat had 900 million value in August.

Dont think you can compare these two, Petra diamonds is not making enough money and is not profitable, while Tullow oil is profitable.Tullow has plans A&B in place to bring down debt. Their Ugandan asset is worth 1.4 billion

Bops hedging in place, 150 million cash flow was based on 70000 bopd ? while actual peoduction is 8500000 bopd.Dont think they need to make any repayments this year.They sold 22% stake in Ugandan assets for 900 million and somebody is interested in their kenyan assets too. So I wont worry about price of oil. This will be taken over soon.

If oil stays this low for a month or so, I wanted to say.

And company has been hedging 45000 bopd this year which means that it wont be affected by current conditions if oil stays this low.

I think before Corona birus, there was ebola and before ebola there was swine flu.Everything was back to normal within months. We will find out but point I am trying to make is that this gridlock is temporary.

These conditions are temporary compared to oil glut in 2014/15 which lasted good three years.Oil demand is there but Corona virus has gridlocked everything. Once it is over we will see oil back in demand.

May be next week, week after or next month.Debt is issue here but Tullow is sitting on massive oil reserves.However Kenyan/Ugandan asset sale would change tye scene alltogether. There were some reports in January that tax issue between ugandan government and Tullow has been resolved and I was really disoppointed when they did not conclude it in January update.