Rockhopper Exploration Forum

Of course they are US allies and oil price drop can be used as a weapon. Apparently the US used this tactic to destroy the USSR's economy.

As for the Arabs, Saudi needs about $80 to balance its budget and pay for it's huge public sector. Other small Arab states have a lower threshold if I remember. Saudi already cut supply once the other week and may do again.

As you say heavily dependant on oil price over the coming weeks/months

Agree. I have a position in both RKH and FOGL, RKH I bought around 73p and FOGL 27p but have a stack of cash on the sidelines which Ill be using to add to my holdings when the time is right

Difficult to know who is causing what. Pressuring Russia. Dire global economy. End of petro dollar. Pressure on US shale. So much going on to call it.

Absolutely, what is your view on the oil price situation with the Arabs? Do you think they will scale back supply?

I'm still waiting with cash ready on the double.

Agreed. The next campaign is just a few months away, so there should be a good chance to make some $ very soon both here and in FOGL. ARG too if farm out happens ASAP and they get a slot. Problem is timing. With the oil sector getting hit daily buying at any price may result in a loss before the drill rally starts.

Something was certainly afoot on the iii board given the sudden influx of posters claiming the PMO update was going to be disastrous. Imo they tried to get the SP down before closing shorts and buying in late yesterday?

appolgies, I do think it's a case of timing here rather than if. Falklands receives a huge amount of publicity in UK, hysteria often kicks in as was the case in the last campaign