Rose Petroleum Share Discussion Threads

[judijudi] 11/2/2016 08:04

Another ultra tight advertised spread this morning!!

[moneymunch] 10/2/2016 16:14

Prices had recovered earlier on Wednesday, a day after posting its third-biggest daily fall since the financial crisis, on talk major producers might tackle a glut that has sent prices to 12-year lows.

Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed producing countries reduce output by 1 million barrels per day - without saying whether non-OPEC member Russia would cut.

While traders and delegates from OPEC doubt any deal between the group and rival producers - which would be the first in over a decade - will happen, talk of it has boosted the market.

"If prices drop further, the chance for joint action increases and this in turn should prevent a further sharp drop in prices," said Carsten Fritsch of Commerzbank. "Today's gain is just a bounceback after yesterday's sharp sell-off."

[moneymunch] 10/2/2016 16:07

BP has predicted a bright future for the oil and gas industry with crude prices spiking at $100 a barrel again, huge increases in shale output and new production from Canadian tar sands.

The British oil company believes fossil fuels will still be providing 80% of total energy supply in 2035 and admits that under this scenario, carbon emissions will rocket.

The predictions are contained in the latest annual BP Energy Outlook, which looks at long-term trends and develops projections for world energy markets over the next two decades.

“In the middle of a downturn in oil and gas prices, it is important not only to adapt to the current tough conditions, but also to prepare for the next set of challenges,” argued BP chief executive Bob Dudley.

The key message seems to be that the oil and gas industry must keep on extracting new reserves to meet strong demand for energy from developing countries and a growth in the world population.

Spencer Dale, BP’s chief economist, was unwilling to say what price assumptions were used in his predictions but did expect an improvement away from a current level of just above $30 a barrel oil.

Prices would eventually be likely “be in the middle somewhere” between $30 and $100, saying that the high figure was not a natural “resting place” but “something will happen to make prices spike up again [on occasions to $100],” he said.

Dudley told the International Petroleum Week conference in London on Wednesday that the commodity cycle that saw oil prices hit $100 as little as eight months ago was not over. He said the second half of 2016 would see stronger prices because “every storage tank and swimming pool” would be full of oil.

[judijudi] 10/2/2016 16:03

Oil prices are retreating from overnight gains as traders still see a growing glut and reasons to sell off on every rally.

The Organization of the Petroleum Exporting Countries said Wednesday it cut its forecasts for global oil-demand growth, citing lower consumer appetite in places such as Russia and Brazil despite low prices. That demand is key because oversupply is still getting worse, with traders anticipating that U.S. government data coming later Wednesday to show domestic oil stockpiles grew for the 11th time in 14 weeks.

Light, sweet crude for March delivery recently fell 10 cents or 0.4%, to $27.84 a barrel on the New York Mercantile Exchange. It had reached as high as $28.73 before starting a retreat around 8 a.m. EST.

Brent, the global benchmark, recently traded up 43 cents, or 1.4%, to $30.74 a barrel on ICE Futures Europe. It had reached as high as $31.35 before starting a retreat around 8 a.m. EST.

Analysts said that much of the gains from overnight came from bearish traders cashing out after their trades benefited from the recent slide. Many--including organizations such as the International Energy Agency and the U.S. Energy Information Administration--expect the oversupply and lower prices to persist for months.

Rallies are "simply providing fresh selling opportunities," Jim Ritterbusch, president of energy-advisory firm Ritterbusch & Associates, said in a note. "At the end of the day, supply will continue to exceed demand by a wide margin."

Lower oil prices are generally considered a boon to oil consumers and more broadly for the global economy. But this time around, "the overall negative effect from the sharp decline in oil prices since mid-2014 has outweighed benefits in the short term," OPEC said.

Despite lackluster appetite for its commodity, OPEC has continued to pump at full tilt. The group said its production rose 131,000 barrels a day to 32.33 million barrels a day in January, driven by higher output from Nigeria, Iraq, Saudi Arabia and Iran.

U.S. production has failed to budge much either, and all of that oil is helping to fill stockpiles around the world at a time of year when they would often shrink. The American Petroleum Institute, an industry group, said late Tuesday that its data for the week ended Friday showed a 2.4 million-barrel rise in crude supplies.

At 10:30 a.m. the EIA issues its official inventory numbers, a widely watched measure of supply and demand. Analysts surveyed by The Wall Street Journal expect it to show U.S. crude stockpiles likely increased another 3.7 million barrels.

Unless that report "tells us the last month of crude and gasoline data is rubbish, the market remains bearish and looking for more pain to the producer to force" output cuts, said Scott Shelton, broker at ICAP PLC. "The action has to come from the supply side [because] the demand side will only continue to disappoint."

Industry executives gathered at the International Petroleum Week in London remain largely bearish. Oil major BP PLC Chief Executive Bob Dudley said he expected the oil market to begin to balance itself in the second half of this year, but stated that a return to a market of $100 a barrel and higher won't be in the near-future.

Industry players and many analysts are holding out for a supply-side response with production closures or cuts.

"The big story is still that most of the industry is not viable at [this] level, so we know we're going to rise at some point," said Paul Horsnell, head of commodities at Standard Chartered Bank. "The question is, how long do we stay at low prices and what kind of signs does the market need to see."

[moneymunch] 10/2/2016 06:57

Oil price rebounds in Asia as Iran sparks output cut hopes

CNBC 2 Hours Ago

Oil prices rose sharply in Asian trade on Wednesday on glimmers of hope of a producer cut-back and after a steep sell-off overnight.

[ghost of mclala] 09/2/2016 15:20

I was pumping this 3 years ago saying 100p with still waiting . LOL

[moneymunch] 09/2/2016 15:07

Good news possible at anytime. Gl :-)

9/12/15

the Board believes that the extended timeline in the permitting process may work in favour of the Company. Should the oil price have improved prior to the drilling of the 1-15H, the Board believes the six drilling permits will provide the opportunity for a larger scale and more expansive drilling programme.  Following discussions with potential industry partners, which are ongoing, the multiple permitting programme is of more interest to those wanting to develop the acreage.


Potential Acquisitions

As outlined in the Interim Report, the Board still believes the current sector environment provides an opportunity to acquire high quality assets in well-established producing basins. We hope to be able to update the market on such opportunities in Q1 2016

.We are very pleased to have received the permits for the Tango project and we are considering our options to be able to commence drilling on that project as soon as possible. We believe the Tango project to be one of the most prospective porphyry targets we have explored."

[aimshare] 09/2/2016 14:37

Add it to your collection.

[judijudi] 09/2/2016 14:34

Another highly intelligent and reasoned post about Rose

[aimshare] 09/2/2016 14:32

I'd have to agree with that. There's probably no skin left on your nose, no doubt it's gone the same way as your knuckles. ;o)

No complaints, just observations.

[judijudi] 09/2/2016 14:25

Glad it makes you laugh
Why complain if you smile
I'll continue to post what I think. If you are not prepared to filter then tough. Continue to read my posts and continue to smile
Smilings good for you
No skin off my Nose either way!! :)

[aimshare] 09/2/2016 14:17

Why bother ?

It makes me laugh. You must have carpet burns on your knuckles by now.

Even the price chart has been more optimistic than you since the middle of January.

[judijudi] 09/2/2016 14:11

Hey aimshare,
Filter me then
It's not hard to do
Honest

[aimshare] 09/2/2016 14:07

You're always glass 'half empty', Judi. It's like a depression special.

[moneymunch] 09/2/2016 13:28

Lol, no dump with only 3m shares traded, we're obviously at a volatile stage where the share price moves signicantly on little volume, and so a few buys will take this back up again and of course any good news could see it flying up. Gl :-)

Ps news expected Q1

[judijudi] 09/2/2016 12:42

At the moment it looks like a good old fashioned mm pump n dump to me

[1i1i1i] 09/2/2016 12:03

Serves them right for selling! LOL

[bean02] 09/2/2016 11:28

Someone needs a new broker! Robbed on that sell!

[judijudi] 09/2/2016 10:19

4th biggest loser at the moment today
Not surprised and as predicted
No news
drip drip drip
Come on Idiens. Get that Rabbit lifted!!!

[moneymunch] 09/2/2016 09:21

The average of 17 forecasts compiled by Bloomberg last week was for Brent crude to end the year at $48 a barrel – a 60pc jump on the price of $30 seen this week.

[moneymunch] 08/2/2016 19:29

Investors in Brent crude now hold more futures and options contracts that bet on the price rising than at any time since the InterContinental Exchange's records began in 2011, data from the exchange showed on Monday.

Money managers raised their net long position in Brent crude futures and options by 31,346 contracts to 292,300 lots in the week to Feb. 2.