Harbour Energy Share Discussion Threads

[ny boy] 13/4/2020 17:22

I am expecting BP to cut their divi by 50%, hopefully not more, I can live with a 50% haircut it’s a long term hold. If there is another drop or a retest of the lows I will add more BP but at this juncture it’s difficult to say where we are going, need another few weeks of data and clear Gov directions on a unlocking plan, probably be until the end of June.fircsure it will end but at what price to the economy, stay safe and invest carefully, no urgent rush to get in, many hills to climb still.

[steg] 13/4/2020 17:19

Yip mr Putin wants 42, Saudi want it up, us want it up. I suspect the will do what it takes to level it out but at the same time they won't want to see the price rocket only to fall. I would back these 3. Decent steady oil prices a a relatively low level will help economies to recover

[molatovkid] 13/4/2020 17:15

Likely to be further cuts in the future if you ask me

[steg] 13/4/2020 17:13

Price of oil is far more stable than it was last week and Pmo did well during an uncertain week. Sharp rise in the morning I would predict :) not a short position I would risk. A they say let the trend be your friend and no reason for a significant pull back other than for a little bit profit taking gla

[y1phr1] 13/4/2020 16:20

Correct but my money is going on it .

[investor_2] 13/4/2020 16:14

No guarantee of that

[ny boy] 13/4/2020 15:17

Not keen on these minnows,With big debt mountains, only been buying BP. in order to sleep well at night, buying since early 200p’s and adding on decent pull backs.

[y1phr1] 13/4/2020 14:58

Going down tomorrow buying opp.

[neversatisfied] 13/4/2020 10:26

It will take a while to "fully" recover but it will be a step change process leading up to full recovery. It will not be that long until cars are progressively taking to the roads, planes to the skys and industry picking back up. So it's not a case of nothing for months on age. An important point to remember.

[fizzmiss] 13/4/2020 10:18

Saying the markets look to the future and price accordingly the oil price fall is truly puzzling, granted Corona will affect economies across the world for many months but think that was already priced in the markets; hence oil crashing down from $60

This has done nothing for shale and will bankrupt many; seemingly the game plan of larger shale companies within USA.

Long term we will all benefit but will take at least 12 months for oil prices to recover.

Oil should rise this afternoon when the markets open within the USA ; if not, then we will probably see a fall to around 20p tomorrow, gutted.

[stansmith3] 13/4/2020 10:18

jotono issuejust tricky to value companies which are basket cases leveraged against a manipulated commoditylucky there are so many experts able to do that

[jotoha2] 13/4/2020 10:06

Stan , what is the issue here , PMO was 14p to not long ago , everybody could of bought , and many of us did , I', staying but till it hits my target , which is above 50p !!
Happy trading , take a little look at savp , it is going to move sometime soon.

[stansmith3] 13/4/2020 09:05

sick too truetrouble with jam tomorrow brigade is that the recovery has just been kicked another nine months down the roadif you bought at 16 and are waiting for 50, who knows, some people paid multiples of thatpmo is currently burning money at these pricessomehow i find it difficult to believe marky has gone through the balance sheet and worked it outi did it last year with enq and the troubles were clear to seeso, the board having been in group think jam tomorrow mode has had fingers well and truly burned, then what do they do, go straight back into group think jam tomorrow mode

[s34icknote] 13/4/2020 08:01

Hi Stan Brent live showing Brent below 30 dollars . It's a half full or half empty world !Sicknote

[stansmith3] 13/4/2020 06:59

markystorage tanks were going to fill up and drive shale out of business, now that would have been positiveshale is again free to grow as the price permitsso poo not going anywhere near we would like it to be, trump has and will continue to be a force against high oil pricesanyone getting in on onedb and adgs pumping may have a wait for 200-300 nowenjoy

[steve73] 13/4/2020 05:23

So 9.7Mb/d of cuts from OPEC+, with US, Brazil & Canada expected to decline 3.7 Mb/d (but with no time frame indicated). Hardly enough at the present time IMO.

OPEC+ has been more than generous, cutting 25-30% of its production, so they will be expecting at least a 35-40% rise in the oil price to offset this. Brent to $40-45..?

But unless the CV situation improves dramatically, the demand is unlikely to match even this proposed reduction. Even if lock-downs were to suddenly all be relaxed I very much doubt that economic activity would return to normal for a very long time. People will be much more careful about their discretionary spending (or maybe not given the amount "free" money that's about to be distribute - mainly to people with no interest or ability to put some away for the lean times).

I hope I'm wrong, but I'm not expecting fireworks here tomorrow, although on the flip side, perhaps this deal will prevent a return to the lows of the last few months.

[markymar] 12/4/2020 23:00

Andy it was Stan saying under the bed

[markymar] 12/4/2020 22:57

StanRome was not built in a day nor shall PMO share price but in time we will get there..It's a postive

[andypop1] 12/4/2020 22:56

Virtue,
Sorry I've not been around, I'm sure you will appreciate some things are more important than posting on here.
My mum died about ten years ago so no, I've not been hiding under her bed.

I'm just catching up. I see Charlie 1 won't be transformational for the company, it could be argued the poor result gave the share price a boost, what was that song by Alanis Morissette?

Oil demand destruction continues, storage is fast running out, the proposed cuts will do nothing to fix the demand versus supply surplus we will see over the next three to six months.

A lot of people will have made some good money out of this, well done.
My risk threshold is higher than those betting on a company that has admitted it is burning cash at the current oil price, cash it can ill afford to burn.

Good luck all and happy Easter.

[alistair4444] 12/4/2020 22:56

Financial Times Limited 2020.

12th April 2020 9.00pm

Derek Brower, Anjli Raval and David Sheppard in London

Opec secures record global oil cuts deal under US pressure


Donald Trump hails ‘big oil deal’ with cartel as coronavirus slashes demand 

The cuts of 9.7m barrels a day are more than double those made by Opec during the
global financial crisis.

Mr Trump immediately welcomed the announcement, saying it would protect American jobs, just hours before oil markets were due to reopen after Easter weekend.


Saudi Arabia and Russia ended their oil price war on Sunday by finalising a deal to make the biggest oil production cuts in history, following pressure from US President Donald Trump to support an energy sector ravaged by the coronavirus pandemic.

Opec producers said the cuts deal would in total remove around a fifth of global oil supply, although this would include declines forced on other producers, like those in the battered US shale sector, by the recent oil price collapse. 

Even without the volumes to be contributed by those countries, the cuts announced by Opec on Sunday evening of 9.7m barrels a day are more than double those made by the cartel during the global financial crisis.

The agreement by the Opec+ group, first brokered on Thursday, was backed by the US and G20 on Friday but had threatened to unravel after Mexico — a relatively small oil producer — angered Saudi Arabia by seeking an exemption from the deal.

But following US pressure and prolonged negotiations, Saudi Arabia conceded the point, allowing Mexico to cut by a smaller margin than its Opec+ peers. That resulted in the overall curbs from the Opec+ group amounting to 9.7m b/d, slightly less than the 10m b/d initially pledged, or roughly 10 per cent of pre-crisis demand.

The cuts will begin in May for two months and then diminish in size before expiring in April 2022. The cartel’s big Gulf producers, Saudi Arabia, the United Arab Emirates and Kuwait, will deepen their own cuts, adding to the total.

The inclusion of declines by non-Opec producers in the total cuts — for an aggregate close to 20m b/d, or nearly 20 per cent of global supply — may not reassure traders that have tried to weigh the loss of up to 30 per cent of global demand as economies have shut down to slow the spread of the coronavirus. 

The deal, while historic for its size alone, also marks a startling pivot for Mr Trump, a frequent critic of Opec in the past, who pushed the cartel to make cuts designed to support oil prices. Mr Trump has previously blamed Opec for raising fuel prices for the average US consumer. 

“The big Oil Deal with Opec Plus is done,” Mr Trump said on Twitter on Sunday. “This will save hundreds of thousands of energy jobs in the United States. I would like to thank and congratulate President Putin of Russia and King Salman of Saudi Arabia. I just spoke to them from the Oval Office. Great deal for all!”

[stansmith3] 12/4/2020 22:36

the historic agreement is to try and stop storage tanks filling up, its just a shut in by another name - do keep upit is a happy easter for me, not being in this or enq for the falls has worked out welldo keep averaging in like adg

[markymar] 12/4/2020 22:30

Summary: Under the historic agreement the Opec plus group plan to cut 9.7 million b/d which will last across May and June. The agreement also plots out 8 million b/d cuts extended to year-end and 6 million b/d cuts through April 2022. Happy Easter Stan