Among O&G stocks, I prefer to go with the laggards (100Mil - 500Mil) today, such as REACH & SAPNRG.
REACH is sitting on a proven reserve and that reserve has just gone up in value. Similarly SAPNRG is on a stronger position after its rights issue last year. In addition, its major shareholders have invested in the company at 0,30 per share. This means that the current price is ridiculously undervalue from their cost.
This both deeply-depressed prices on recent selldown over almost 70% would have lower our potential downside risk & increase our potential upside return for more than 50% in near term!!
Time to reevaluate if its worth keeping this ship as there's lot more better and well run O&G companies at heavy discounted price now.. Sold off after seeing really bad QR..
Donald J. Trump ✔ @realDonaldTrump Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!
Oil producers from the OPEC coalition are discussing the possibility of slashing global crude oil production by 10 million bpd in cooperation with producers from outside the group, a source with OPEC told Reuters on Friday, a day after U.S. President Donald Trump said he expected a massive cut from Saudi Arabia and Russia.
A final figure up for discussion would depend on the outcome of the meeting of President Trump with U.S. oil firms later on Friday and over the weekend, Reuters’ source said.
After days of speculation about President Trump getting involved in the Saudi-Russian oil price war that began claiming its first U.S. shale victims, President Trump said on Thursday that he had spoken with the Saudi Crown Prince and Russia, and hoped and expected that Saudi Arabia and Russia would “cut back approximately 10 Million Barrels, and maybe substantially more,” sending oil prices soaring by 20 percent.
President Trump later on Thursday in a coronavirus press briefing added that the 10 million bpd figure had actually been discussed in the conversations and that it could be as much as 15 million bpd.
end of the day us will dafenately got to negotiate with saudi and Russia.. else their economy going to slump.. either slight lose or total break down.. they are not dump.. know how the business got to carry on..
MOSCOW: Russia bersedia bekerjasama dengan Arab Saudi dan Amerika Syarikat (AS) untuk mengurangkan pengeluaran minyak, kata Presiden Vladimir Putin, semalam.
Beliau berkata, Russia sanggup membuat perjanjian dalam rangka kerja kumpulan OPEC+ dan bersedia bekerjasama dengan AS dalam isu itu, menurut satu kenyataan dikeluarkan oleh Kremlin.
“Saya percaya penggabungan usaha adalah perlu bagi menyeimbangkan pasaran dan mengurangkan pengeluaran,” menurut kenyataan itu.
Harga minyak jatuh dalam beberapa minggu kebelakangan ini susulan kemerosotan permintaan dan ketidaktentuan ekonomi global akibat pandemik COVID-19.
Bulan lalu, OPEC dan sekutunya gagal mencapai persetujuan berhubung pengurangan pengeluaran minyak selepas Moscow yang mengetuai OPEC+, enggan mengetatkan pembekalan bagi menangani kesan wabak berkenaan.
Putin dalam satu perbualan dengan Menteri Tenaga, Alexander Novak, berkata Russia bersedia berbincang mengenai ‘pengurangan kira-kira 10 juta tong sehari, sedikit kurang, mungkin sedikit lebih’.
Katanya, Russia berhubung rapat dengan Arab Saudi dan beliau juga telah bercakap dengan Presiden AS, Donald Trump, baru-baru ini. - AFP
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....
Surewin168
383 posts
Posted by Surewin168 > 2020-03-25 21:00 | Report Abuse
reloaded..