Providence Resources Share Discussion Threads

[greatfull dead] 07/12/2016 13:14

FTJ, you got de message...............

[funtimejonny] 07/12/2016 12:59

Finger hovering over the buy button as we speak Herm. About to mobilize my vast financial resources to make a killing here.

[hermana3] 07/12/2016 12:43

A few small buys turning up now!!! Could we be in for a half decent afternoon session here?

[hermana3] 07/12/2016 12:12

OPEC has only two tricks and it is trying second one now!

[steelwatch] 07/12/2016 11:44

Tudor Pickering & Holt of similar opinion, though they did say back in January by end of 2016

[stockriser] 07/12/2016 10:49

Tks to Amaretto on GENL bb for this article
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Top trader Andurand says Opec deal a turning point

Oil fund argues price will hit $70 a barrel in wake of first supply cut since 2008

December 6th

Hedge fund manager Pierre Andurand has returned almost 15 per cent this year by betting on a recovery in oil prices and he forecasts the rally has further to run after Opec’s agreement last week to cut supplies.

The French founder of Andurand Capital, which has grown to be one of the world’s largest oil funds, returned 6.1 per cent in November as he positioned for crude’s rally and is up 14.4 per cent in the first eleven months, according to people familiar with the fund’s performance.

“Opec’s agreement was stronger than the market anticipated and with Russia joining [the deal] this has set the market up for further gains,” Mr Andurand said.

“It’s a real turning point for the market,” he added, forecasting oil would hit $70 a barrel early next year.

Since last week Brent, the international benchmark, has rallied by more than 15 per cent, on Monday hitting a year-high above $55 a barrel. Prices slipped on Tuesday, however, dropping below $54 a barrel.

Andurand Capital is one of the few large oil funds — alongside Andy Hall’s Astenbeck Capital Management — to survive a market crash that cooled investors’ willingness to back traders specialising in the sector.

Oil’s rebound in 2016 has helped rekindle interest, however, with funds under management at Andurand Capital more than doubling to $1.5bn, having started the year at $640m.

Mr Andurand first came to the attention of the oil industry in 2008 when his previous fund Blue Gold — run with British trader Dennis Crema — correctly called oil’s spike to close to $150 a barrel and its subsequent crash during the financial crisis.

After BlueGold shut he launched Andurand Capital in February 2013, returning 96.6 per cent since inception through big bets on oil.

After being vocally bearish on crude since mid-2014 the trader flipped positions at the start of this year as oil slipped below $30 a barrel.

“These prices are not sustainable for the next 4-5 years,” Mr Andurand said, arguing supplies were heading for a “structural deficit” because of the drop in investment.

The views of Mr Andurand and other big traders were sought by the Saudi delegation in Vienna the day before Opec’s meeting last week, the Financial Times reported, as the kingdom tried to get a steer on how the market would react in the event supply cut talks collapsed.

Opec eventually agreed cuts of more than 1m barrels a day, the first such deal since 2008.

Mr Andurand said Opec’s largest members believed global investment reductions — estimated at as much as $1tn — allowed them to cut output now without losing market share.

“Saudi Arabia saw the size of capex cuts and that the pipeline of new projects is well down for the coming years, so they were able to act now — unlike in 2014,” he said.

He said US shale output — whose rapid growth between 2010 and 2015 led Opec to first raise output to try and squeeze higher cost rivals — would not rebound fast, despite many producers squeezing down costs to operate in a world of $50 crude.

“Everyone points to the drop in costs for shale producers but that won’t last if the industry accelerates again,” Mr Andurand said, arguing US shale growth would be capped at about 300,000 b/d per year.

“Costs tend to follow oil prices, not the other way around.”

[funtimejonny] 07/12/2016 09:25

Think there's been a bit of that going on for the past couple of weeks meself

[hermana3] 07/12/2016 09:06

Is "El Pez Gordo" out shopping again today? Dave may try to keep price down for a special friend....

[funtimejonny] 07/12/2016 09:02

Bring it on !!!! Anybody got level 2? Wondering whats in the in tray?

[funtimejonny] 07/12/2016 09:02

Bring it on !!!! Anybody got level 2? Wondering whats in the in tray?

[hermana3] 07/12/2016 09:01

FTJ,Good call yesterday. What is your price for year end?

[cgod] 07/12/2016 08:47

Biding over 12p for the shares, some one is filling up. news soon, 12p is break out.

[greatfull dead] 07/12/2016 08:43

Good morning FTJ, You may be right. That is when I feel Westie will pounce possibly.
ATB,
GD

[theprovosts] 07/12/2016 08:39

The musings of a PVR shareholder (5 years of constant downward momentum).

QUICK QUICK QUICK, ive made a quarter point, omg is that a profit!?! SELL UP !!!

Bye, hope your not here for 2017 :)

[funtimejonny] 07/12/2016 07:28

I would not be too surprised if we have a quiet day today....The party who has been acquiring these shares may well hold back a bit to let the price settle back so they can resume buying sub 12. But we'll see what pans out in due course.

[richie666] 06/12/2016 20:20

Just make sure somebody brings de brown sauce!!!

[cgod] 06/12/2016 18:59

Lets get the eggs and mushrooms on as well, our time now.

[steelwatch] 06/12/2016 18:44

Ftj - best keep de sausages well clear of de bacon slicer!

[funtimejonny] 06/12/2016 18:40

Wake up and smell de bacon!

[westmoreland lad] 06/12/2016 17:08

Thx GD + Steel. There'll be serious sizzling if it goes the same way as OXUS !!

[steelwatch] 06/12/2016 17:00

westie - hope the ruling goes in your favour. Whiff of sizzling rashers here then Richie!

[richie666] 06/12/2016 16:55

Gents. I get the distinct smell of "knowledgeable" buying looking at trades today.

It could finally be on and the tanned one be about bring home a cple slivers of bacon!!!

[greatfull dead] 06/12/2016 16:49

Westie, best of luck.