Member Info for Shpunken

It looks very unlikely that we will hit 15p... worst case scenario right now looks like 17p, but even that is a major push.. 23.7 is a very strong support lvl and with all the latest news should be enough to keep us above it.. we need to see progress on future operations, that’s all that matters now.. need a new ceo ASAP to provide clear guidance

We should get an update any time now, will be interesting to see the full report.. with tlw sitting on their arses and doing nothing, am expecting them to at least get the analysis done and to plot a potential drill campaign for next year.. with some luck they would’ve sold half of their stake by end of summer to have enough cash for the new campaign

Very good support lvl at 23.7... pushing towards 25p now, let’s see if we can stabilize above the support this week

I decided to sell 20% of my stake just in case we drop back a lot further. If we don’t then I’ll be extremely happy with that as well! Still have more than enough here to retire by the end of next year, fingers crossed

But the minister downplayed the drop in oil prices on Monday, saying that the cuts were the reason for the rally in oil prices before the meeting in anticipation of the cuts.

“It’s the typical deal you know: buy the rumour, and sell the news.”

Lol that’s a nice way of saying time to sell

Why wasn’t this mentioned on Bloomberg or Reuters?

Degsy where r u getting the 20mb from?

That’s the only positive that I can see from this, is that the shorters shouldn’t be able to drag us down to the March lvls again... hopefully 17p is now bottom and 20s will be our trading range.. I’d be happy if the sp stabilizes until we get rid of this ****ing virus and hopefully more good news from the co regarding sales and farm outs

If it was a bigger cut “then you would’ve seen oil prices strengthen to $30 very quickly and that would be helpful for equity markets but we didn’t get that,” said Peter Cardillo, chief market economist at Spartan Capital Securities.

“The only new news here is that they did finally reach an agreement but the 10 million was already in the marketplace,” said Cardillo, adding that it should help the market avoid hitting new lows.

Cardillo noted that much would now depend on when governments around the world are able to lift stay-at-home orders aimed at suppressing the coronavirus.

If the global economy stays closed for another few months “this 9.7 million reduction will be meaningless because people aren’t driving,” Cardillo said.

Edward Moya, senior market analyst at Oanda in New York, wrote that he would not be surprised if the agreement became a “buy the rumor, sell the news” event, though he believes it could still give some support to oil prices.

The 9.7 million barrels per day cut will begin on May 1, and will extend through the end of June.

No other way to put it, absolute ****e of a deal... by may 1st they will have barely any storage left.. the lockdown has been extended until may 1st by nearly half of the planet.. I will be considering my position in oil stocks, while I am in profit.. extremely disappointed

https://www.google.co.uk/amp/s/www.bloomberg.com/amp/news/articles/2020-04-12/oil-traders-squeezed-as-crude-glut-fills-storage-at-mideast-hub

Degsy where did u get that info from.. everything in the last few hrs has been about the deal not being concluded, G20 didnt agree on any numerical cuts just the same old bull****.. at this moment we have only the initial agreement of 10mbpd, which is better than nothing but no where near enough to give us all a lift we needed.. the negotiations are still ongoing as saudis have refused to price the oil, so hopefully by Tuesday we will have some form of clarity

Ffs no I didn’t sell, I don’t need to sell I have an a very low average because I was patient.. if the current situation freaks u out then don’t invest/trade in oil stocks.. this idiot attitude to straight away say this **** is really annoying.. when the news is positive, i must be looking to sell, when the news is negative I must be looking to buy, seriously grow up

A record oil production cut hangs in the balance after energy ministers from the Group of 20 major economies on Friday agreed that stabilization in the market is needed, but stopped short of discussing specific production numbers.

That meeting was useless, next week will be a very rough one for the oil industry and that should bring them bk to the table with concrete solutions this time.. expecting oil to drop to $26-27, and us to go bk to 22p and if things don’t improve, 17p... very disappointed, trump didn’t do **** again, just his usual bla bla nonsense

Bloomberg has announced that mexico agreed to the deal because of trump.. and the negotiations are progressing with the G20 still

The fact that the deal takes us to 2022 speaks volumes.. they know the built up stocks will take some time to be consumed.. projections atm show we should be bk to normal by second quarter 2021, flights, movement etc.. so the fact that the deal takes us to 2022 is very positive.. I just hope they can increase the amount today as well and then it’s just the waiting game and hopefully the science world can come up with solutions before the last quarter

The only country that could’ve posed a problem (Russia) is playing ball, so Mexicans doing this is nothing short of ******ed.. not the right time or place to bargain.. I am pretty sure they will cave but the stress they are causing is unnecessary.. the biggest impact (even if it’s 2mb) will be if US and Canada join the deal.. that will send a very clear message to the market

Pump, that article came out 3hrs ago.. it’s the latest development from the talks.. Russian news, Vesti.ru also reported that couple of hrs ago

Read today on Bloomberg that Mexico walked away from the talks yesterday because they were unhappy with a cut of 400kbpd.. Their minister said 100k is max and walked away from the talks, so the Saudis are now saying that without them the deal might be off all together.. there is however hope that today US and Canada, who are capable of up to 5mbpd cuts, will be able to contribute to the deal and persuade Mexico to be a team player... by the looks of it today will be a very important day for us, if things go sour, forget about the 22p I was saying yesterday, we will be bk to 12p...

The group will cut 10 million barrels per day in May and June, 8 million barrels per day from July through the end of the year, and 6 million barrels per day beginning in January 2021 and extending through April 2022. Cnbc just now.. 10m is not good enough, I hope we get more tomorrow from other g20 members, or we will see us drop bk to 22p on Tuesday