PENN WEST PETROLEUM LTD. T.PWT

Oil Is In. The Energy Report 02/06/17

[makedonka]

"Oil is back in with investors as hedge funds and big money flock back to the barrels. The weekly commitment of trader (COT) reported that crude futures traded by large speculators and hedge funds totaled a net position of 492,692 contracts in the data reported through January 31st, a gain of 10,169 contracts from the previous week. In fact, this is the third week in a row that big money has moved into crude oil, raising their interest by almost 12% in recent weeks even as U.S. oil rig counts and U.S. supply increases. The reason is that the big money is looking beyond the near-term glut and focused on a large OPEC production cut and rising global demand and increasing tension with Iran.

Even as the U.S. oil rig count rose by 17 to 583 rigs this week and is the highest since October of 2015, the big money knows it will take time for U.S. producers to erase the cuts that OPEC and non-OPEC players like Russia have already made. Rigs in the Permian basin are hot but in other formations we may have to see a higher price for oil to reignite the investment appetite.

Iran is launching another missile. President Trump called Iran a terrorist state, a charge that Russian President Vladimir Putin strongly disagrees with. Still the U.S. last week imposed sanctions on 13 individuals and 12 entities related to Iran’s missile program. On Saturday Iran held a military exercise to test its missile and its radar system. Iran is also threatening Israel saying that if the U.S. attacks Iran, they will fire a missile at Israel. There are I24 reports that a senior Iranian official on Saturday warned that Tehran would immediately strike Israel if the United States “makes a mistake” as a war of words continued to escalate in the wake of Iran’s ballistic missile testing and Washington’s announcement of new sanctions in response. Mojtaba Zonour, a senior member of Iran’s National Security and Foreign Policy Commission and a former Revolutionary Guards official, was quoted in Fars news agency as saying that, “only 7 minutes is needed for the Iranian missile to hit Tel Aviv.”

Phil Flynn

Read te rest HERE:

https://blog.pricegroup.com/2017/02/06/oil-is-in-the-energy-report-020617/

[Snoopydoo01]

If oil is "in" again, then why da fawk are we still red today??? :(

[makedonka]

Why don't you contribute and tell us?

[Snoopydoo01]

I don't know and that's why I'm fawkin asking!!! Getting worse by the hour... Did I get duped when I bought in at 2.36? I thought that was a great deal! Sure feel like a FOOL now!

[makedonka]

You can push the sell button and end your suferring...Before you do that, you may want to have a look at ALL energy stocks and you may  feel better/reconsider...

[Flyfishing20155]

Snoopy, For starters, PennWest management is less top notch, not transparent to shareholders-Good exampe is the Cardium net sections went from 700 net section to 400 net sections in less than two months. With the Cardium being a multistage play , a company can drill in any zone they wish (providing they have permits to do so) so the general thinking is why did PennWest reduce they're acreage

[DAN7118]

Good God...Another BankBuyer/jomonkey stooge. Sad

[Funinthesun1]

DAN7118, two posts since you're profile was recently set up and adding no value...simply bashing. DAN the Basher!! My bet is you give yourself 5 stars or you play the negative card for obvious reasons. sad life really...

[whoLuLu]

Sun..  DAN is your former Mamman Bumblebead etc. poster.

[smartinvest78]

I bought @2.20 today. Be patient, you will get a decent reward once oil bounces above $55. PWT is a very safe bet considering its low debt and low operation cost.

[Funinthesun1]

Fully agree...

[Flyfishing20155]

Snooopy, use this table to validate your investment decision, this table is a theoretical simulation of what took place on this board from the high in 2011 to the high of $2.72 in 2016/2017 a share. Assuming these posters have the guts to make that investment decision to buy at those levels and smart enough to sell at $2.72. MY GUESS IS NOT! I assumed that when these poster said they average down,

[makedonka]

Everyone that has been here long enough knows very well who and what your AGENDA is and how many ID's you blew through while running it. Those that are new here, do your own DD on the NEW Penn West and decide for yourself.

[Flyfishing20155]

Don't let the Thelma and Louise story suck you in to buy PennWest, When Thelma commits a crime, her best friend (Louise) wanted to give them self's up and explain what happen. But, Thelma convinced Louise to keep on going, at the end when they were surrounded by Authorities, Thelma convince Louise it would be a good idea to drive over the cliff- when they did, Thelma and Louise seemed

[makedonka]

WOW!  What is all that rambling about?? You OK? 

[makedonka]

Read the above and judge for yourself whether you should take seriously any comments or investing advice from this person/ poster. What is wrong with this story...?