smoke and mirrors
and just more of what everyone already pretty much knew.
the only sort of good thing I see here is the debt level being a bit lower. but is it really lower???
they are not adding the extra bribe money paid to petrofak which is more (i know it's down the road, but still, so is the other debt in essence) than the savings in expediture cutbacks that reduced the debt.. also the debt is in us bucks, they report in cdn sooooo add over 25% plus to your 750 mil and u have 1 bil cdn. also no one has any idea what extra costs will occur this winter in the north sea, but you can bet it will be something extra.
oh now they are on time, whipeeeeee, after what, over 2 years of extended delays and an over 30 mil payoff so they won't have to say we have another delay, yep, that's just great yeeeha
$92 hedge, yahoo , well that is now in the past and you are looking at closer to a $70 hedge for the remainder of the hedge program, which is a decent time frame, good on them. but I dont think they can make any money at $70 oil
stella will not start at full production and there will be many issues getting it up and running up to snuff. it's not gonna be all magical like some posters seem to think, guive your heads a shake.
hedge funds have been reversing their bullish bets on oil the past few days and becoming mopre bearish again, the russians are increasing production and are now at record highs. one thing i will say is that with russia in syria now and a block seeming to be forming with iran russia syria and looking possibly like iraq also, they may be looking at the saudis as a target or at least forcing isis or even helping them get a footprint in saudi . if there is even a wiff of any of this you will see another risk premium build back into the price of oil, unfortunately this in imho is the only thing that will save the high cost producers, otherwise we gonna have 40-60 buck oil for a very long time.
great day on the markets, all of my 30 plus stocks in da green.
cheers ferret