Kelt Exploration Ltd T.KEL

Time to Fill the SPR, Transmountain Q1 2024

[MyHoneyPot]

It looks like the USA is starting to fill the SPR, they purchased 3 million boe in May and plan to purchase more later on in the year. The EIA numbers are really all over the place and i don't know if that is just the way it is, or if it is designed to cause confusion. SRP releases, Big Imports, Gasoline Imports, etc, the energy matrix is quite complicated right now. 

The transmountain is suppose to be in service in Q1, 2024 and this will mean the usa will have to get about 600,000 boe more from imports weekly or about 4 million boe/week. 

SPR Purchases Link

IMHO

[Seppelt]

A tiny drop in the ocean after releasing more than 220 million barrels in 2022 alone. And there is still about 8 mil left from the 26 mil mandated by the Congress years ago. This will end in June but until then, the next 3-4 weekly reports will include spr releases. Can't wait until July when reported commercial crude stocks won't be affected by the government's interference

[MyHoneyPot]

It makes a big difference to go from a weekly SPR draw of 2-3 million boe, to now drawing oil out of the market and putting it into the SPR. Do you think that OPEC was giving the USA an opportunity to make good on its word that it would fill at the $70 dollar range, and they really have not.  I think Q2 might be messed up with all the fires, and plant turn arounds. It might be a tuff

[Seppelt]

Q2 is tough for everyone and when results are released in August, the markets should discount the expected results and look forward to next quarters. But markets are unpredictable so I will probably do some trading in order to raise cash in case if there is a good buying opportunity. In fact, yesterday was a good opportunity but without much cash, we just watch the equities going down and then

[MyHoneyPot]

Yes I am 25% cash right now, and am buying what i consider quality. I feel a few quality names will make big moves in the future, and the debt to CF number it a lot different when you paying 8-9 percent on you debt, so this is not the time to be in a highly leverage stock. That what i think, Eric Nuttal says this is the time to take more risk, my feeling is this is the time to buy better quality