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You've got it wrong Coffee

CASP is on the cusp of greatness

The blockage in the Suez canal seems to be holding the oil price up this week, and perhaps for some time to come, postponing the retesting of $60, which I think we will see once the Evergreen gets refloated

I would be happy with an RNS which said that output had been maintained around 1400 to 1500 bopd but that the MJF drilling program was being restarted with the coming of the spring.

Still sure Brent won't retest $60 KK?

On the CASP front, the only way I can understand the MMs behaviour is that there is a buyer out there.

Thanks for your comments SailorBeware. Can I just say to you and all sensible posters from ADVFN that we welcome you as refugees from that board, as it suffers from a serious outbreak Go Go Go overkill from jamesey3 and hallow

They're both listed as buys on this site, SB.

Badgernator, perhaps Rhertig is talking about the two large buys showing at 12.51 and 12.52.
I don't remember them being there when I checked yesterday.

Kumkuat, thanks for your thoughts about Brent. Very difficult to call IMO.

has taken a bit of a tumble this week and may even test $60 again next week. Anyone got any explanations or is just normal volatility?

Our late large buyer yesterday seems to have persuaded the MMs that they should reduce the price from 2.5 to 2.4.

£40k that is! At 2.5p a pop
I suggested there might be a buyer in the backgound a little while ago.
Up in the morning I think.

Prediction is always difficult, particularly when it concerns the future

Well rocketeer, I admit we have had mainly buys today but the volume doesn't quite match up to what you suggested.
March 16th perhaps? April 1st?

Beware the Ides of March!
Perhaps Clive Caesar should watch his back?

We don't really know exactly what shape CASP is in until we get some more informative RNSs. Regular information stopped with the pandemic and the oil price crash. We have all been hoping for a glimmer of information, but little has been forthcoming this year so far.

We should get a Q1 report in April and the accounts for 2020 would normally come in May (it was June last year for understandable reasons). Like all oilies, the accounts for 2020 will not make good reading, but the present situation and the futurewill have much more to recommend them.

I remain optimistic that Brent and the resumption of higher export percentages will have turned things around here. Sound strategic management decisions are now key to further progess. Please develop the MJF field!

had another pop at 70p yesterday. The graph is pretty much a straight line from November last year, rising by $7 a month on average. All such trends come to an end, but if we carry on at that rate we would be at $80 by the end of April. That would be worth over a penny on the sp on its own by my reckoning. Thank you OPEC+ DYOR

Hi Kumkuat, its a 2021 spreadsheet!
2019 was all about the alleged deeps. A spreadsheet wouldn't have done much good then.

Boaty is in the cost column as you rightly said, but the cost column is the dodgy bit about it. I am not convinced by any information they have given us about costs per barrel. Their accounts to date are little more than income expenditure accounts. I believe the 2020 accounts, when they come, will be better as they have had to move to a better basis.

On my admittedly slightly dodgy spreadsheet, then 2.4p is a fair price for 1500 bopd, 60% export and the BNG charge.
Yelemes would be worth an additional 0.7p, the BNG charge around a penny, and a move to 70% export a penny ha'penny.

Nothing is priced in at the moment other than existing output and pricing. Therefore there is much to gain with the slightest news.

Of course with Clive sidelined, the Thursday habit may be shelved

...and there a lot of silly little trades today!
The price seems to be holding for the moment despite the emphasis on selling. Perhaps there is a large buy order in the background?

Brent has fluctuated between $66 and $71 since the OPEC meeting. The market is a bit unsure where to go next.

Likewise this is the third day of a 17.39% spread on CASP, the highest for some time. This also reflects uncertanity about where we are going next IMO. We need some news to resolve it. Tomorrow's Thursday!