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[lewisyfawr] 14/6/2019 08:08

Good morning, my dear friends. Looks like a good end to our week. Oil over $52 and hammering up. Review of business a further week forward as we near news of the results.

And a potential extra $23,000,000 POSSIBLY hitting our bank account from our Georgian exploits, and an indication perhaps Range are actively pursuing other alleged torts from long ago. All great news.

[1manos] 14/6/2019 08:04

Well they could of been eating lamb chops if they hadn't of been so pompous

They can't say they weren't warned.

[rangenoresources] 14/6/2019 07:58

I think they are moving onto Pigeons and Swans if the newspapers are telling the truth

[1manos] 14/6/2019 07:54

Mind you they are now having to eat seagull's instead of NZ lamb..never mind eh.

[1manos] 14/6/2019 07:52

That would be great news RNR
Finger's crossed for sub $50
Most Peep's in their right mind's think the same.
Some on here were predicting $100 a pop....bless

[rangenoresources] 14/6/2019 07:35

WTI will be near $50 today/Monday

[rangenoresources] 14/6/2019 06:28

What is not to like?

OPEC brought its oil production down to 29.876 million barrels per day in May according to the latest edition of OPEC’s Monthly Oil Market Report (MOMR) released on Thursday—a five-year low for the oil cartel as it struggles to control member production to keep oil prices out of the doldrums.

That production route represents a decrease of 236,000 barrels per day month on month as Iran’s production falters under the weight of tenacious sanctions levied by the United States.

Iran’s May oil production fell to 2.370 million barrels per day, a decrease of 227,000 barrels per day from April. Nigeria and Saudi Arabia, too, both produced fewer barrels in May, with Nigeria’s production falling to 1.733 million barrels—a decrease of 92,000 barrels per day. Saudi Arabia’s oil production fell to 9.690 million barrels per day, a decline of 76,000 barrels per day.

Both Angola and Iraq increased their May production, with Angola adding 74,000 barrels per day to reach 1.471 million barrels per day, while Iraq increased oil production by 94,000 barrels per day, to 4.724 million bpd.

This month’s MOMR offers a reduction in 2019 world oil demand, with OPEC projecting it would increase by 1.14 million barrels per day—a reduction of 0.07 million barrels per day last month’s report. Total global oil consumption is expected to average 99.86 million barrels per day in 2019, according to the report.

“Throughout the first half of this year, ongoing global trade tensions have escalated, threatening to spill over, and geo-political risks remained in many key regions,” OPEC said in its report. “This has resulted in a slowdown in global economic activities, and weaker growth in global oil demand, both compared to a year earlier. Meanwhile, non-OPEC supply continues to increase at a high pace, while the voluntary production adjustments as per the Declaration of Cooperation (DoC) have again risen to record-high conformity levels.”

[rangenoresources] 13/6/2019 21:46

Skin - there are some similarities between both of them

Marshsi - bless him. You have to admire his front to claim Aminex are doing well. He was saying these were going to be the next best thing ....

[marshsi] 13/6/2019 21:21

Aminex share price £0.79 looks about the lowest its ever been yet some celebrate a 2% increase

Give it up!

[skinwalker] 13/6/2019 21:20

I used to wonder if Malcy was the puppeteer's brother.

[rangenoresources] 13/6/2019 18:37

Are you saying it's fake news and was done to raise oil prices artificially?Well I never

[rangenoresources] 13/6/2019 18:36

Well done you. Any news on when you will post comments about Malcy's negative outlook for oil after Q3?

[celticheart07] 13/6/2019 18:21

I see Aminex came back from 6% down to 2.45% up just saying

[1manos] 13/6/2019 18:05

What relevance has malcys frogs got to do with the junkyard oil co.

If he was prattling on about the gingerbread man or the Flowerpot men or even Hong Kong Phooey then fair enough.

[rangenoresources] 13/6/2019 15:48

I notice you didn't post Malcy's negative comments on oil price after Q3Why was this Celticheart07?

[dodge_city] 13/6/2019 15:44

Iran is going to dump 100's of mines in the Straits of Hormuz.

I said a few months ago $100 a barrel, let's hope the Iranians do it.

They've also got plenty of those little boats that wizz about everywhere. I guess they are waiting until our Border Service collects their special force operatives from Calais and gives them a lift to the UK. Many of them have already been ferried here and are setting up arms caches in Brentford.

Apparently some of them have been despatched to Wales and have been seen regularly visiting Milford Haven

[rangenoresources] 13/6/2019 15:43

And still you post BS from Malcy. I bet he has no skin in any of these companies and couldn't tip coal

[qantas] 13/6/2019 15:35

Range Resources
Not much to write about at Range as they are suspended while they restructure their debt and consider the acquisition of a Chinese educational company. However the announcement today could make a meaningful difference should there be any positive outcome.

The company has submitted a notice of arbitration against the State of Georgia over wrongful termination of the PSC on block VIA which they held through their 65% interest in Strait Oil & Gas. This is the meaningful bit, Range is claiming damages of $21.9m plus interest of $1.7m as the government allegedly re-tendered the block.