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I think most people can see that Brent isn't going anywhere fast for the next month or so. Profit taking, a realisation that the SP is not going to raise dramatically for a while is sinking in with traders. Trading update next week. I would wait for that. Should be decent. Longer term all you need to do wait for POO to go up and PMO will respond
SK, in answer to your previous question, wife is tasty, no I'm not paying and she's not not worth it
Surely they will issue shares at whatever price they get for them on the open market. Correct me if I'm wrong
Think we are range bound for the foreseeable, although I do see prices going a bit higher than that towards the end of the year. US supply is going to fall off a cliff in the next couple of months and so long as demand picks up there, we should see some massive draws on inventory. IMO
Don't worry about that crap. Few weeks earlier they wrote a positive article. PMO, even in the current year, have plenty of revenue to cover there cost and pay down a decent chuck of debt. There H1 hedging program has really saved them. At current prices they will be cash flow neutral. That's with them continuing to pay down debt. I think of course we are in the hands of the oil price. My thinking is we could hit $50 by year end and that will be excellent for the share price. Stay tuned
I agree. I think they can achieve their aims just fine keeping a floor at $40. Shale is struggling and very few US drillers are even considering drilling even before the end of the year. No, this is nice little sweet spot for them and don't see them crashing it again just because a few producers won't knock a few 100k off their prod.
It's just a little pressure to get decent compliance
Downs, OPEC have said they are putting a floor in at $40 and I believe they will succeed
Offer on the table? Is it a rumour on here or more substantial then that?
Yep, got the the debt wrong too. 1.91b at last trading update. Wouldn't have been hard to check. He gives the old figures for BP asset acquisition. This guy is either deliberately misleading or so lazy he can even do simple research before writing an article. Neither are a good look for someone who dishes out trading advice for a living
Can anyone clarify what hedging PMO have for Q2?
Earlier press releases put it at 14% of oil at c64$, latest one in may not indicates 50% oil hedged at $60.
If so. Very nice ??
Rumours that OPEC are gonna keep cuts in place to the end of the year I think. Seems to have worn off now though. Brent back down today
Looks some of that Saudi oil has landed on US soil. Imports up 2mbl/d. Demand still looks rather weak.
Guess the excuse would be that a 25% chance of a .5 rate cut was baked into the markets and this is a correction. This will have to recover soon
Come on oil. What you playing at? Got to come good soon
Maybe the algos trying to get their buys in. Selling smaller holdings to swing the price down only to get bigger buys at a cheaper price. This has to go north soon.
Something similar on EIA and we should see a jump I reckon
We keep reading these articles. Keep hoping for a massive crash in shale production but it just it just doesn't seem to be happening, yet......
And....... nothing!
What's happened oil? Where's all the bulls?
"Was reading an article that stated they are projecting another draw this week of 10mbbs. I think we are on a run this week to the mid-80s"
Got a link for that? It would do very nicely :)
We are a long way from a conventional war but what might happen is we have another Tanker war like in the Iraq/Iran War of the 80s. Will definitely push up prices. Thurs/Fri before this happened it looked like the market was pricing in a US/Iran agreement but this is long way off. Neither side look keen to back down