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Marcel, "An oil price war between Saudi Arabia and Russia will most likely accumulate over the course of the year, energy analysts have told CNBC, with no end in sight until 2021 at the earliest." This could all change over night but it's nice to have all the scenarios. Those poor buggers in Guyana, just when there're about to great a break bam!
I'm reading articles on how they can go for years with their huge reserves of US dollars - WW1 redux. A barrel of Canadian crude is going for less that US$8 so we're pretty much done over here. The boarder is now closed AND no hockey, I might be the first to off himself due to Covid-19!
I for one am still 100% confident in EOG/ECO and hope to add another 100k new shares <20 cents - it's hit that today on the Venture. Only spend what you can afford to lose and be prepared to wait. Covid-19 may be the biggest hurdle which has to be cleared first imho.
The Germans have a word for it, 'Schadenfreude'. Proselenses was correct on his outlook for this stock but I'd bet even he is surprised it has fallen this much so quickly - unless he saw Covid-19 and the price war coming. If Covid-19 sticks around this is dead money for 24 months.
Maverick, an update from my bank regarding the inability to be served ... "the lock for online trading remains in effect due to suspected illegal activity". Again, it's the Venture.
Maverick, this is what I get when I try to buy ... "There is a trade restriction on this symbol". I'm not the only one apparently, but this is the Venture after all.
Wish I could buy more here but there has been a trade restriction on EOG since Monday.
Another raid today?
I'm no longer holding more than I once was, too tempting not to take profits.
Nice : )
Doesn't sound in the best of health but still gung-ho. I'm still buying and hold more now than ever.
Fernan, for that matter Eco could leverage a portion of their 60% in Namibia for use in Guyana - all sorts off scenarios which is why I've been adding of late.
All sorts of scenarios of course but I think Tullow will let someone else lead, 5,141 MMBOE … we'll see.
Pro, I doubt TWL will be operator by Q4.
The next drill is crucial imho, that said, how sensible would it be to at least re-shoot some of the block if we aren't going to be drilling until H2? This would happen after the last discoveries have been assimilated of course and drill locations determined. Let Total pick up the tab in exchange for the appropriate percentage points of Tullow's 60% - the laggards should be good for something. I'm assuming of course that Total's technology is superior to that used to 3-D our block.
Tullow blinked and have shown their Guyana hand to everyone that may be interested. If this isn't a catalyst for a prospective buyer looking for a bargain, or an opportunity for Total to increase their holdings well then I don't know what else could be better. Tullow must be in dire straights, what else are they going to shed, glad I'm not holding TLW.
Lookin' good IJW. I'm looking forward to getting Carapa-1 behind us one way or the other, after which we'll see the return of the hiatus money. Lots to look forward too in the new year as per your post.
Simonpf, thanks for sharing. The author might have included cases such as the Alberta Oil Sands for a little perspective whilst maintaining the purpose of his article. From my point of view it's Tullow's willingness to produce Jethro that is now in question, with everything else it currently has to deal with - to IJWT's point/post.
Here is an article pointing to just how desperate the Tullow position seems to be ... https://oilnow.gy/featured/tullows-final-drill-target-at-orinduik-crucial-to-campaign/
Can't help the feeling they'd be gone in a heart- beat given the opportunity. After blind siding Gil Holzman the sooner the better imho.
IJT until we get a committed operator the sulfur question is secondary. A miss at Carapa and Tullow may not have the stomach to continue.