those buy at 11-13sen ..is aiming to sell at least 23sen. those who buy at 20-23 sen is aiming to sell at least 30-33 sen..those who buy at 30-33sen is aiming to sell above 40sen. those who buy above 40sen..definitely is hoping to reach 55sen..the rest is history..:)
The American Petroleum Institute (API) estimated on Tuesday another large crude oil inventory build of 9.978 million barrels, a draw of 1.108 million barrels of gasoline, distillate inventories were up by 5.462 million barrels for the week ending April 24 ... A total inventory build of about 14.3 million barrels of oil ... The Energy Information Administration (EIA) will report the actual oil inventories by tonight ...
With roughly 4.2 billion people around the world subject to some form of lockdown in an effort to slow the spread of the coronavirus, the IEA is forecasting a 6% drop in energy demand for the year. In absolute terms this is the largest on record. Percentage wise, it’s the steepest decline in 70 years.
The demand hit from the pandemic is expected to be seven times greater than the decline in the aftermath of the financial crisis in 2008.
“In absolute terms, the decline is unprecedented – the equivalent of losing the entire energy demand of India, the world’s third largest energy consumer,” the agency’s Global Energy Report said.
I just noticed ENQ (Enquest) relations with Armada. ENQ already cutting job in kraken (you can google it) recently as they are reducing their kraken programme. so, only a matter of time before ENQ will request to defer lease payments to Armada. cost bopd in kraken is high, around $30 hence they need around $40 oil price in order to be able to cover admin cost. so, high risk it will impact payment to armada, hence MAYBE that bad news will come next few weeks and will impact armada, unless armada has other positive news elsewhere.
so, Armada is not for me for the time being. I still have my shares in DRBHCOM and others
"While Enquest’s Kraken field is currently enjoying production efficiency of over 90%, current Brent prices are trading below its revised FY20F cash flow breakeven oil price of US$33/barrel. Despite its halving of capex guidance to US$120mil involving other unrelated fields, we do not discount the possibility that Enquest, which has a high net debt/EBITDA of 1.4x, could defer lease payments to Bumi Armada if the current environment is prolonged."
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Investsucess Trader
4,761 posts
Posted by Investsucess Trader > 2020-04-26 20:57 | Report Abuse
Ok, wait for the oil to rebounce...