Providence Resources Forum

Hello Mmmmm. We won't Have To wait long to see how things play put. Saudi Arabia will not go into OPEC meeting in December with oil in low 40s or below. They are shorting paper market and physically over producing to pressurize competition and curtail future oil investments in non-OPEC supply. Do not Believe Saudi and Its allies in OPEC are selling cheap oil for the Good of World peace and love. So once Frackers Run into trouble with loans this October I believe we will see oil price recover 50-60 dollars by december. That is my opinion. What Tor and his bedfellows do is another matter

Hi Spuddy, whilst I admire your optimism I believe you have used the phrase 'expect things will change [shortly] with reasons cited. How can you keep making claims like this?

Kursty did say a deal before end of year.. hete

Believe That things will change from October onwards. Banks will decide on credit lines to Frackers in October. This is based on the value of a barrel of oil. Obviously the lower the price of a barrel of oil the worse it will be for Frackers. Thus Saudi Arabia and Kuwait sovereign wealth funds are shorting oil futures deliberately and thus Keeping oil price artificially low. Once Frackers are delivered blow in October expect oil price to recover as Saudi and Kuwaiti Sovereign wealth funds cover their short positions in futures markets ahead of December OPEC meeting

ongc hopefully might be interested

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Could be that the share price that they mentioned is the price that is listed on the Irish Stock Exchange, which is a price of twenty two cent.

Nice volume, nice movement on the price. Now for that to keep going until November then we will have something to talk about.

until news on barryroe re farmout sucessful..everything else is just background noise

Maybe Donald Trump might be interested , I was beach fishing in west Clare over the summer & had a chat with him , he told me to tell Jnr he might be interested & could i get him a ticket for the Data Room