RE:Now that the price range has been established Brent crude price is the reference for Valeura
Carbonbull wrote:
Fairly easy to draw breakoutlines front month WTI above 75.50 will lead to a retest of recent highs.
VLE trading above $5.65 will lead to significant new highs , if fortunate to catch the tailwinds of an oil breakout could see a $7 handle .
Like all commodities the volatility is treachourous so I would be very cautious if front month trades below $72. Cautious to me is no margin and 25 percent in cash. Like always only my thoughts not to be construed as advice always do your own DD and find a competent financial advisor (easier said then done).
Well done Sean for the company's recent recognition, stay cautious on acquisition trail , in todays oil world your balance sheet is your best predictor of multiple valuation, I think the next 18 months should be spent organically building reserves with only minor tuck ins. Thank you and your team for your efforts to date.