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https://www.wsj.com/articles/saudis-consider-canceling-opec-plans-to-boost-output-11602174829

Look on the upside. Imagine where we'd be if it'd been a bad RNS.

I did qualify my post, but the RNS shows water cut down from 26% in Q3, and 21% in Q2. My main point was to say that these figures clearly rebut NGMS's claims that the water cut is rising so significantly that the well will be non-commercial by Xmas. By the way, where is NGMS today? Has he commented on these figures?

As of now, production is ahead of the 12-14k average they have given as guidance. Water cut has also dropped slightly, although they say there is a 'limited' increase. Which contradicts ngms oft stated assertion that the watercut will crowd out the oil by the end of the year.
Bit annoying about the decommissioning bond, but I guess we'll be saving the monthly fee.
More positive than the very negative sp indicated.

At some point physical reality will have to impinge on the fantasy world of renewable energy. Probably before it costs over £1,000 a month to heat your house.

Mals, in your time on LSE, you've averaged one post per month. I was hoping for something revelatory. Instead, you've squandered your October posting quota on just rehashing ngms repeated deramps from the last few days. I'm disappointed, man. Bitterly disappointed.

Chrysaor got PMO on the cheap. And maybe they haven't finished looking fir cheap plays with large accumulated tax breaks in the NS.

"Linda Cook, CEO of Harbour, commented:

"This transaction is the next step in Harbour's aspiration to develop a new independent E&P company with global relevance. It significantly advances our leading position in the North Sea, where we will continue to re-invest, and expands our geographic footprint to Asia and Latin America. We are excited by the Premier assets in these regions and view them as the foundations upon which to build material portfolios and further diversify the company."

I don't know Chris, but it always seems to drop first thing. Sometimes it recovers, sometimes it doesn't.

NMC

How much oil can the Aoka Mizu FPSO hold before it needs to offload?

What is a TNCP trade?

Never cocaine, Dark. It inflicts far too much suffering on the poor of central America for me to stomach.
The sp was beaten under 3p on fearsome Friday, and briefly dipped under 2.5p. Since then it has struggled to rise up to and above 3p, which it has managed decisively this week.
I appreciate if you are in from much higher, this doesn't look like much of a recovery, but from the lows, it's already a decent rise.
Ok, we consolidated a bit today, but we're only down by the same amount Brent is, slightly less actually, so that's pretty good in my book.

Since they kitchen sinked it, there has been a gradual recovery trend since 14 Sept, its clear on the chart.

Pedro, I appreciate that many here have been badly burnt. I've been well scorched my self a few times elsewhere. Just have to fight through. This looks like its bottomed and a recovery is on the cards. Can't see this ever getting back to 50p, but double figures is doable.

If you listen very carefully, you can hear the shorters shutting the door behind them on the way out. Very softly, so they don't wake the baby.

If the last update didn't "close off the downside" then the new CEO will instantly lose all credibility. HUR would be truly gone then. If though they painted a picture so bleak that things can only look up, then the next op update should have some glimmers of hope.

Anyone know roughly what CA's average is here? They will want the sp well above that before they start to dump, I'd have thought, given how many they've got to shift.

Guess I was writing while the more nimble and concise bransonbull got in ahead of me.

Apachewind. I predicted a couple of days ago that if we cleared the CBs people would complain there's not enough money for remedial work.
But how about they clear half the CBs for circa £25m? They couldn't buy the lot at that price anyway, probably not even half. They'd have enough left over to afford the water injector. They'd have to be sure of a return on remediation though.

I think they should buy some bonds back on the secondary market. As many as they can under 30% of par. Might even get 10% of them. It would ease debt pressure, and push bond price higher, which would kind of reassure the market.

I don't know why people bother with broker ratings. In my experience, they're only reasonably good when looking backwards. But rubbish at predicting the future. Let's face it, if there was a broker who could accurately forecast they'd be working with Buffet, not writing notes to help the house traders churn stock.