Clontarf Energy Share Discussion Threads

[fenners66] 01/4/2020 14:11

MadChatter2
1 Apr '20 - 14:06 - 12114 of 12114

"Clon won't be producing "

That may be accurate....

[madchatter2] 01/4/2020 14:06

Clon won't be producing for at least 18 months regardless, by then oil prices will have risen and a major will be taking the brunt of costs.

Either way no denying when we get the license this is going to at least 3-4 p absolute minimum. Which is more than enough for me.

[dreamtwister] 01/4/2020 13:08

So true education is expensive ignorance is costly,

healthy option of copper to hold in your portfolio as oil

consumption dehydrates,copper will be used in every aspect of the

green alternatives that will replace fossil fuels.

,the demand for the "Red gold"

will be in short supply due to demand outstriping supply

[fenners66] 01/4/2020 12:46

Happy to educate....

[fenners66] 01/4/2020 12:45

MadChatter2
1 Apr '20 - 12:13 - 12106 of 12110

"Negative price for oil? That made me laugh."




Ridiculous idea huh ?

See this article from Monday's Daily Telegraph - go on look it up.



Oil prices could turn negative as world runs out of storage

Collapsing demand and huge oversupply mean producers may soon need to pay to get rid of their oil
By Ed Clowes 30 March 2020 • 6:29pm
Premium
Oil
Falling prices have forced producers to shut down oil rigs at their fastest rate in 35 years

Oil prices could turn negative in some parts of the world as demand continues to collapse, with Russia and the US set to be the biggest losers from the crash.

In landlocked regions where maintaining an oil well no longer makes financial sense, producers could be forced to pay just to get rid of their oil, according to analysts at Goldman Sachs. This would be cheaper than shutting down wells, they add.

Around the world, producers are capping output because there is nowhere to send the oil, referred to as a "shut-in".

Storage space is almost full and demand has been decimated by social restrictions implemented to battle the spread of coronavirus.

The analysts said: “The ultimate magnitude of these shut-ins, which is still unknown, will be likely to permanently alter the energy industry and its geopolitics.”...

[fenners66] 01/4/2020 12:40

One of the most bizarre aspects of this presumption that an insolvency bill is "good" for CLON /PET is that its predicated on the idea that ERIN going bust as an oil producer is helpful to CLON.

ERIN was producing oil (in Nigeria) at a cost of $48 a barrel and went bust.

There's no chance of anyone exploring Tano and then producing oil at less than $20 a barrel.

US is going to have to close Permian Basin soon at this rate.

[ajj2003] 01/4/2020 12:35

This should have finished things off yesterday for the insolvency bill, three strikes and its out there ;)

ORDER PAPER FOR THE FORTY-SECOND SITTING OF THE FIRST MEETING OF PARLIAMENT
WEDNESDAY, 1ST APRIL 2020

44. MOTION That the Corporate Insolvency Bill, 2019 be now read the third time.(Attorney-General and Minister for Justice)

hxxps://www.parliament.gh/docs?type=OP

[dreamtwister] 01/4/2020 12:31

nature always wins thou the human nature of greed breeds a dose of gout.

As oil wells are pumping to full capcity " saudi/russia " the reserves are

drained & the wells loose pressure then the production drops leaving the lifting

costs uneconomical @ present oil prices !

[madchatter2] 01/4/2020 12:14

History has proven time and time again that there will always be high demand for oil in the long run, no matter what

[madchatter2] 01/4/2020 12:13

Negative price for oil? That made me laugh.

[valentine73] 01/4/2020 12:10

Smart money is buying this dip. Market malaise providing an opportunity both here and in Pet.

[sabine4] 01/4/2020 12:10

Dreamtwister, I had a look at the link. Jeez, that's a lot of shuffling of papers and silences. Like watching paint dry, lol.

[dreamtwister] 01/4/2020 12:04

clontarfs credit ratings very poorly.

[elmfield] 01/4/2020 12:02

Market games while we isolate.Might top up tomorrow when I have shifted funds across if it drops much more.

[skynet2000] 01/4/2020 11:58

What's the reason for the down turn on SP?

[dreamtwister] 01/4/2020 11:52

as mentioned earlier the solvency bill will have the final reading t/d
.
(Minister for
Energy
)
44
.
MOTION
That the
Corporate Insolvency Bill, 2019
be now read
the third
time
.
(
Attorney
-
General and
Minister for
Justice
)

[elmfield] 01/4/2020 11:50

Fenton, we will see. Now is the time to strike.

[baz33] 01/4/2020 11:48

Yeah going down like a rocket.

[fenners66] 01/4/2020 11:10

When ?
The license says spend $25.75 to 35.75m+ in 3 years

Watch the price of oil and new exploration expenditure for the next 3 years

How long before you think CV19 will be done ?
That will be a long time before anyone starts a new project.

[fenners66] 01/4/2020 10:50

Oil at $20 a barrel with storage for the oversupply running out.
Expect oil price to go lower even potentially negative as they will run out of places to put it.

Covid will alter usage and reduce demand for a long time maybe even forever.

The world will have no economic to produce oil soon.

Who is going to want a new exploration license for offshore oil - which will be worthless over the next 3 years?
Oh, and you have to pay $750k to get it !
Then "invest $25-35m !

Clon down to there last few £100k?

[elmfield] 01/4/2020 10:25

Lippe stop picking on it, Let it grow let it grow!

[lippe] 01/4/2020 09:28

Them Itchies wouldn't give Horgan the steam off their pish ...

Watch and see ...