callsignzulu
28 May 2018
CNBC OPEC kingpin Saudi Arabia is determined to keep oil prices trading around current levels, one strategist told CNBC Monday, but a total shutdown in Venezuelan production could soon prompt crude futures to skyrocket toward $100 a barrel.Prices in the oil market have been steadily rising since last year, with global benchmark Brent climbing to multi-year highs of $80 a barrel earlier this month. An upswing in crude futures has largely been driven by OPEC-led production cuts and robust global demand.However, more recently, crude futures have slipped amid renewed fears of an oversupplied energy market."I think that Saudi Arabia, the rest of OPEC and Russia have achieved their objective of clearing this industry overhang from the oil market," Bob Parker, investment committee member at Quilvest Wealth Management, told CNBC's "Squawk Box Europe" Monday."I think what they are concerned about is that they ideally would like to avoid a spike in the oil price, let's say towards $100 a barrel, because they are very sensitive to the fact that a spike would then lead to a generalized global downturn," he added.Saudi Arabia has 'very strong' vested interestIn light of energy market concerns over potential supply shortfalls, Saudi Arabia and Russia said Friday that they were discussing the possibility of raising oil production by some 1 million barrels a day. This, combined with news of an uptick in U.S. crude production, prompted steep declines in crude futures last week.Brent crude traded at around $75.38 a barrel on Monday morning, down 1.4 percent on the session, while U.S. WTI stood at $66.72, down around 1.7 percent.Parker said that while Saudi Arabia had a "very strong vested interest" in keeping crude futures at around $70 to $80 a barrel, a move toward $100 a barrel could soon occur in the event of a "complete collapse" in Venezuelan crude production.He added the prospect of a dramatic slowdown in Venezuela's oil production remained "entirely possible."Venezuela's oil output has taken a sharp turn lower in recent years, with the country facing an economic crisis of chronic food shortages and spiking inflation.Crude production in the Latin American state has dropped to around 1.4 million barrels a day in recent months — a spectacular collapse of nearly 40 percent since 2015.
Ramptastic
25 May 2018
Stellar run Well, well well, after years in the doldrums the SP has nearly doubled in a few months.I'm think that the POO may top soon, but its been a great ride.Jim
Caddie
25 May 2018
Herald [link]
TheDell
24 May 2018
Next Shovels and Picks next!!
TheDell
24 May 2018
West of Shetlands An add on to the Sanda North and South, this means a carefully thought out well researched medium long term 300-450 mbs plus possibility to the pot. Tom's driving!! Prepared to overlook the sub for the garden shed in Kent. (For the time being anyway).
chutes
24 May 2018
Buy Expecting news here very soon !
NoQuestionMarks
23 May 2018
Re: 30th Licensing round awards. Forgot to mention that Cluff Natural Resources are partnering us on the Gas Prospect.All in all seems like a successful round.Expect an RNS soon will confirm whether we got everything we bid for.
NoQuestionMarks
23 May 2018
30th Licensing round awards. They are out.Interests in nine licenses, all as operator.14/20a in the proximity of the GPA.30/12c, 13c, 17, 18 and 19c in partnership with Serica, Zennor and Calenergy.47/10 and 48/6. Natural Gas on Dana's old stamping ground.205/12 Next door to our Sanda Licence.[link]
NoQuestionMarks
23 May 2018
Bullish Lots of other oilies down sharply today but we tick up another 6%, and on decent volume. The buying has been relentless for weeks now... Is it just privateers like me and you or a more concerted effort by an institution?The share price has now doubled in a few months and put some of us back in the blue once again, after what seemed like an age in the red.Sometimes you just have to trust your research, ignore the noise and keep buying, I just wish I'd bought even more at 35p.We have to thank Fidelity for that one, dumping their shares at the bottom of the market.What a foolish decision that has proven to be!
city watcher
22 May 2018
Posted 3 .5 months ago. Could well be why buying has recently occurred ...........................................................Perth and Dolphin are located in the Moray Firth area of the UK Central North Sea, which contains very large oil fields such as Piper, Claymore and Tartan. Through a series of licensing round successes and strategic acquisitions, Parkmead has established a key position in this area of the North Sea. Perth and Dolphin are two substantial Upper Jurassic Claymore sandstone accumulations that have tested 32-38° API oil at production rates of up to 6,000 bopd per well. At Perth, the Claymore Sandstone forms a combined structural-stratigraphic trap, onlapping the Tartan Ridge to the North, with a southward-thickening and dipping sandstone wedge. The sandstones that comprise the accumulation were deposited as deep-water turbidites sourced from the Halibut Horst, with a minor contribution from the Tartan Ridge. Parkmead made a number of important growth steps during 2017 in relation to the GPA project. An invitation to tender was announced to the service provider market, covering the pre-FEED, FEED and subsequent development phases of the project. Parkmead was pleased to report that 13 alliance submissions were received, comprising 35 companies, across all project components of drilling, subsea construction and export route options. After evaluating the proposals, Parkmead is holding onward discussions with a number of leading, internationally renowned service companies. The majority of the proposals have focused on innovative approaches to the potential development, with significant new work carried out on well planning, timeline to production and financing. A number of the proposals have also offered finance to the Group for major parts of the development, further reducing the capital expenditure required to bring the project onstream.
TheDell
22 May 2018
Price rise. Wikkid22, price rise has a whiff of oil about it!!
killermanjarrow
16 May 2018
Re: 60p passed! Hello Callsignzulu,A clear time frame would be nice but it's too early to know when the GPA project will be delivered. There's also the question of financing but I think that once Tom Cross has the TRACS report and the Nexen study he'll have all options available to him. I'd imagine that he'd want to keep control of the project in terms of equity, however, he'll also have the option of higher RBL if the TRACS report delivers the potential upside in reserves. I wouldn't be surprised if he opts for a placing soon after the Nexen and TRACS information as it should be the perfect time to offer one. I think there's a good chance that his timing here could be perfect as I can see oil heading over $80 - as well as supply issues with Iran and Venezuela the Chinese demand is soaring.I believe the outlook here is potentially very positive but at the end of the day oil shares on Aim are high risk investments so anything could happen.Looking forward to the news.
callsignzulu
15 May 2018
Re: 60p passed! Killermanjarrow. I totally agree with your post bar the second last paragraph ! All appears to be coming to fruition with basically 100% of assets owned by Parkmead. All going wellThis ingenious plan of Toms could well kick off late 2019 or sooner depending on the FEED results which would take approx 6 months when they start !
killermanjarrow
15 May 2018
Re: 60p passed! "The thing I don't get is the faith in the management in view of their track record"Really?IMHO Tom Cross' track record is pretty impressive. (Ignoring Dana) It appears that he's been very shrewd in taking 100% of equity in the GPA project while the oil market was in the doldrums. He's now put PMG in a fabulous position where they're on the brink of being able to move into the development phase and add real value to the company when the oil market is showing no sign of slowing down. The market appears to be recognising the potential and any news that indicates further progress could mean significant upside to the share price given the current environment.I think Tom Cross has been very clear in his strategy. He said that he'd be taking advantage of the downturn by making acquisitions and now he's saying that he's looking at all options of increasing reserves (TRACS commission), reducing future capex/opex costs (nexen report on the scott platform) and moving towards production by entering into a contracts phase. He seems to be a man with a plan who's already been there and done it with Dana and is now getting on with it with PMG. The choppy oil market has meant that he's had to take his time but he's added huge potential here that has a great chance of being realised given his experience and standing in the industry.Or alternatively Blouse might be right that he's incompetent, closely linked to the hbos crime and riding on the coat tails of his FPM investment and the oil price rise.I'd say he's probably due some credit for the successful dutch gas business and for keeping the company debt free but then again I suffer from a bad case of confirmation bias.Good luck if you're invested here.
killermanjarrow
15 May 2018
Re: the long shadow > or been interviewed by the police lolFind the accountants and we can see if we can iron out the terms.
