for what its worth saudi OPEC chief al-Naimi is due to retire in Dec. saudi's losing 130 billion $ equiv per year .the saudi kings son Salman could take over and he wants to reduce output so price could reach 60 to70$ by the end of January.There is still some hope if nothing but share price increase.
china buys 11% of all oil production slow down here is going to reduce oil prices so what happens now
saudi s and opec have lost 130 billion thru low price setting and production cant see this lasting much longer with fracking nearly dead in the states lets hope for a price increase soon.
cant understand why the government wont pay for drilling the well in barryroe because when the first commercial oil comes the industry will be transformed as far as oil price is concerned 3years ago oil at $100 was worth only 65euro and now at$65 is worth around 50euro so how is price a factor still 30 euro profit to be made per/barrel
all the comments are going back and forward with needless stuff who found barryroe PVR all the other seismic tests in the other assets look good who did them PVR share dilution by PVR was done l so corporate investors could equalise their other expensive shares so lets stop bitching and see what happens
agree with topknot and thats only the barryroe asset what about the rest silverback, spanish pt and all the big structures in the porcpipine faults where l think the main oil bearing structures are dont forget lreland like scotland and norway were beside the equator 250 million years ago along with eastern us the big boys know this too
well done Phoebus if there are 300 million barrels of oil why are we saying its only worth $3a barrel this is stupid
sorry Granto if there are 300 m barrels not compartmentalised then giving a 20 euro profit on 60 euro barrel price and 40 euro extraction cost -- thats an asset of 6 billion euro and these are conservative costs and prices hope my maths are right.
there will be no movement until all the big boys have bought their shares cheaply see what happens when this is done english bank has increased its shareholding to 3% watch this space.
If Spuddy is right that great if not pvr will be gone--Any company with large assets even potential large assets and a very low share price is ripe for takeover --l think this will happen for about €3