Member Info for Tornadotony

Major support line at 1201. Oil shares have been knocked back 10% although oil use globally is going back up and Brent and WTI have held up quite well. A case of the baby chucked out with the bath water. I will probably now wait for a 100% double up after the bottom is confirmed to be in.

Now on 3,500 with handle below 1300. When others are fearful buy. I will just keep on adding until this starts going up where I will hold until the bacon comes home. Motley Fool is actually correct on Shell in that's a cheap share. Lots of divis in future as well.

API result of minus 8M barrels might help a positive move on SP.

Brent up 27 cents or so.

https://uk.investing.com/economic-calendar/api-weekly-crude-stock-656

Added at 1249 as an average down on initial buy. If willing to hold for 2-3 years the return is likely to be 35% plus divis.

With Boris J potentially turning the pound into toilet paper, this is probably a decent place to bolt hold some cash in a future asset. My estimate on future earnings preclude the currency becoming garbage.

Impairments are very much in line with the share price drop to £13 from March (16 to 13 drop = £29B so $27B covered along with any more pain for Q3.). Await opening.

Still in June the RR report is August.

Like the dividend, like the idea of reserve and resources report next month, like the idea of the company being in cash with no debt. The divi helps bridge the spread between buy and sell. Can average off post divi if discount offered.

Looks like profit takers. Did not trade it myself.

Hassa

The Biden policy is no fracking on Federal government owned land and that stands. What the administration can not do is stop State licences on private property. So your half correct and I was half wrong. Tony

They will still pay some kind of decent divi. If it was reduced to 12-14p a year it would still be 3% yield and where can you get that in this market.

Helps keep BP within some investing fund portfolios.

moneybags

In this game everyone makes their own call on their portfolio and what risks they want to make. If you do not want that responsibility find a fund manager to win or lose your money. The key is having an entry plan, an exit target, knowing if your investor/trader or mix of both, your emotional tolerance when losing and winning, make rules that you believe in and stick to them. Your entire wealth should never all be in equites and hopefully you have other assets such as a property or whatever.

depleted not deleted

Hi Slift

Thanks for sharing your thoughts on the Tullow accounts. I would comment that assuming the Uganda sale goes through an eventually the Kenya blocks, then the RBL covers the 2021 debt payment. If oil was to stay at $40 a barrel until March 2022, around 15B barrels of oil in production per annum would not have been replaced and lost from annual supply as Capex spend everywhere is so low. The loss is from non-replacement of deleted oil fields. The population as ever will have risen further. A strategy or means to adapt or a vaccine will eventually restore economic life for the most part although it could be different from before. I therefore believe oil prices will recover to at least $55 a barrel and Tullow is making a profit on that margin. The company also saves $1.50 a barrel on interest costs from selling its assets. The annual income prospects could therefore improve to $200M income a year. The company could finance a couple of drills near Guyana and Suriname before 2022. One hit that could generate 20,000 barrels a year for Tullow would deal with 2022 debt. Selling the entire block after such a find after tax would reduce Tullow debt to below $1B.

4 States have reversed the spike in cases and these are Alabama, Arkansas, Oklahoma and Utah. West Virginia was the most improved up 5% followed by Nebraska and New Jersey on half that rate improvement.
North Carolina has joined other states in rising cases along with Mississippi in quite large spikes. Florida and Texas have declining recovery figures of 3.2% and 4.1% and have not reversed trend. Tennessee has gone from no change and also now in rising cases and recovery down 3.3%. An error on Iowa that I put on before is that are on no change rather improve and their figure was 64.5% recovered. Idaho and Oregon have also reversed their recoveries down by 6.1% and 4.2%. California and New York have no real change from before. Overall USA recovery across 50 States is down 1%. This will be a critical week for USA to get things back under control. I will update much later in the week.

I added on Friday. BP will have less competitors in a few months time when some go bust.

https://www.energymixreport.com/talks-over-uganda-tanzania-crude-oil-pipeline-deal-to-begin-soon/

Its free to run higher.