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Many seem to hv forgotten that crude price can stay in 100 AVG range for afew years in a row that just happened less than a decade ago. This time around the supply situation is even worse due to the structural and political problems that will not be solved hence making this commodity becoming more and more scarce as we go fwd into the years ahead.
Going into hurricane season and seasonal winter demand in the months ahead oil px will get even pricier perhaps starting with Brent going to 108 agn by next friday..oops! Just me guessing nia 😁
Nice evening folks. Happy HR start Liao. Cheers 🍻
Going into hurricane season and seasonal winter demand in the months ahead oil px will get even pricier perhaps starting with Brent going to 108 agn by next friday..oops! Just me guessing nia 😁
Nice evening folks. Happy HR start Liao. Cheers 🍻
BloombergJust
Russia&rsquo s oil output is set to fall roughly 20% by the start of next year as a European Union import ban comes into force, according to the International Energy Agency.
Gradual monthly declines will start as soon as this month as Russia cuts back refining, and will quicken as the embargo takes effect, the IEA said in a market report. The agency expects to see close to 2 million barrels a day shut in by the start of 2023, despite a healthy recovery in production in recent months.
The EU is set to halt most crude purchases from Russia from Dec. 5 in a bid to cut off revenue streams that the Kremlin uses to finance its war in Ukraine. From Feb. 5, an EU ban on Russian oil-product shipments takes effect.
Russia&rsquo s oil output has risen in the past three months, reaching almost 10.8 million barrels a day in July amid higher domestic crude-processing and robust exports as the country redirects crude flows to Asia.
Firers get in position
Look like 天 时 地 利 人 和 times are coming back agn. Akan datang. Huat ah.😀
过 奖 了 。 this one has been one of our golden piggy for the year just redeploying monies made here try and double the pot agn. Pray 🙏 haha
In the meantime just waiting to collect maiden dividends and also collect more if go lower trying not to chase yet since got shorty gv bonus to save cost for my odas. Whats wrong with making more money hor 💰 kachink! Kachink! 💸
Hv a wonderful lunch. Cheers 🍻
In the meantime just waiting to collect maiden dividends and also collect more if go lower trying not to chase yet since got shorty gv bonus to save cost for my odas. Whats wrong with making more money hor 💰 kachink! Kachink! 💸
Hv a wonderful lunch. Cheers 🍻
Chagataii ( Date: 11-Aug-2022 11:52) Posted:
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Clever 👍
Sharetrade8888 ( Date: 11-Aug-2022 11:32) Posted:
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27/27.5 next issit 😀
kt3152 ( Date: 11-Aug-2022 11:29) Posted:
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This one for those with no patience better dont touch. For those who came after doing proper sums risk/reward calc we hv made quite afew good rounds already. This round will be the best imo as stk px shud see new multi yr high in the next 12-18mths. Dyodd 🍻
Time to accumulate not sell..got some last 2 days.....
Likely soon la, volume started on 3 Aug, some selling yesterday, if today no foce selling then huat liao.
noticed low short sell yesterday, ended with small white candle.
with news that rex' s production potentially can last much longer with the news yesterday,
afternoon should start moving. notice brent and crude slowly moving up after US closed in the morning.
dyodd
noticed low short sell yesterday, ended with small white candle.
with news that rex' s production potentially can last much longer with the news yesterday,
afternoon should start moving. notice brent and crude slowly moving up after US closed in the morning.
dyodd
Redbull hvnt even trigger the buy button already so hard to find real sellers to cover tsktsktsk when redbull really come in how ah 😄
Easy to trigger shorty hahaha...okok bring down for the maoshanwang buy hor still need to fill odas. Kamsia in advance 😄
Oil px is also trading in goldilocks environment and moving upwards from here twds higher as we move into the yr end. Dyodd hor. Huat ah 😀
Probably many still waiting for after results to chiak hor. If they bring down due to the results i will be able to fulfill more of my odas bcos recently didnt manage to get much due to the lack of real liquidity on the sell side and also shorty prata covering haiz..
All the best to you bro. Take care.cheers
ahberngh ( Date: 10-Aug-2022 09:13) Posted:
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Dunno abt others im looking at minimum 60 in the next 12-18mths. Dyodd ok. 😄 🍻
You may be right bro. The worst is abt over liao just look pass this episode and gear up for the next few yrs when the company move into a billion revenue and 10-20cts profit yearly. Just like the last cycle shorty manage to capitulate some supporters but new ones come as they finally discover this gem after seeing it ride thru the test of time. Huat ah. Cheers 🍻
kt3152 ( Date: 10-Aug-2022 09:46) Posted:
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Lime Petroleum acquires 10 per cent of producing Yme Field in Norway
&bull The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petroleum
&bull Expected peak production from the Yme Field of estimated 5,000 barrels of oil equivalent per day (net) will add to Rex Group&rsquo s production target of 20,000 bpd
&bull Remaining 2P Reserves of about 6.0 mmboe in the Yme Field net to Lime Petroleum
SINGAPORE, 10 August 2022 &ndash Rex International Holding Limited (&ldquo Rex International Holding&rdquo , &ldquo Rex&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that its 91.65 per cent subsidiary Lime Petroleum AS (&ldquo Lime Petroleum&rdquo ), has on 10 August 2022, entered into a sale and purchase agreement with KUFPEC Norway AS (&ldquo KUFPEC&rdquo ), to acquire KUFPEC&rsquo s 10 per cent interest in the Yme Field (as defined herein) on the Norwegian North Sea, for a post-tax consideration of US$68.053 million (about NOK 633 million) (the &ldquo Acquisition&rdquo ). The Yme Field is operated by Repsol Norge AS. The Acquisition further strengthens Lime Petroleum&rsquo s position as a full-fledged exploration and production player in the Norwegian Continental Shelf, following its acquisition of a 33.8434 per cent interest in the producing Brage Field in 2021. Production from the Yme Field will contribute to the Group&rsquo s target of reaching production of 20,000 bpd across various geographies. The Yme Field is located in PL 316 and PL 316B on the Norwegian Continental Shelf. According to the Norwegian Petroleum Directorate, Yme is a field in the south-eastern part of the Norwegian sector of the North Sea, 130 kilometres northeast of the Ula field (the &ldquo Yme Field&rdquo ). The water depth is 100 metres. The field comprises two separate main structures, Gamma and Beta, which are 12 kilometres apart. The reservoirs are in sandstone of Middle Jurassic age in the Sandnes Formation, at a depth of 3,150 metres. Yme was discovered in 1987, and production started in 1996. In 2001, production ceased because operation of the field was no longer regarded as profitable. According to the Norwegian Petroleum Directorate, remaining reserves in the Yme Field stand at 9.70 million Sm3 of oil equivalent i.e. there are remaining 2P Reserves of about 6.0 mmboe in the Yme Field net to Lime Petroleum. With this reserve base, the field has gone through a complete redevelopment, and production started again in October 2021. The field has undergone a commissioning period and is currently ramping up towards a plateau of about 5,000 bopd net to Lime Petroleum in late Q4 2022. Lime Petroleum intends to commission a summary qualified person&rsquo s report on the Yme Field after completion of the Acquisition. Mr Dan Broströ m, Executive Chairman of Rex International Holding, said, &ldquo This acquisition of more producing assets by Lime Petroleum is part of the Rex Group&rsquo s capital management and investment strategy to seize opportunities with an aim to build and unlock value for our stakeholders. As part of the Acquisition, Lime Petroleum will assume tax balances (as at 1 January 2022) of NOK309 million (US$33 million). Including the existing tax balance of the Lime Petroleum, the total tax balance will be NOK587 million (US$63 million). These deferred tax assets are recoverable for Lime Petroleum.
This is especially important as the Norwegian tax system has been restructured to a cash-flow tax, among which is the removal of the specific tax incentive for exploration activities from 2022.&rdquo &ldquo Rex considers the acquisition to be highly accretive and it will have a positive impact on revenue, EBITDA, profit and production in the long term. Completion of the Acquisition is expected in the fourth quarter of 2022. Similar to the Brage acquisition, the effective date of the Acquisition, upon completion, will be deemed to have taken place on 1 January 2022, as is the norm for transactions in the Norwegian Continental Shelf,&rdquo Mr Broströ m added. The transaction will be financed through a combination of cash at hand and funds from the NOK 950 million bond that was raised in June 2022 with assistance from Nordic independent investment bank ABG Sundal Collier ASA.
&bull The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petroleum
&bull Expected peak production from the Yme Field of estimated 5,000 barrels of oil equivalent per day (net) will add to Rex Group&rsquo s production target of 20,000 bpd
&bull Remaining 2P Reserves of about 6.0 mmboe in the Yme Field net to Lime Petroleum
SINGAPORE, 10 August 2022 &ndash Rex International Holding Limited (&ldquo Rex International Holding&rdquo , &ldquo Rex&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that its 91.65 per cent subsidiary Lime Petroleum AS (&ldquo Lime Petroleum&rdquo ), has on 10 August 2022, entered into a sale and purchase agreement with KUFPEC Norway AS (&ldquo KUFPEC&rdquo ), to acquire KUFPEC&rsquo s 10 per cent interest in the Yme Field (as defined herein) on the Norwegian North Sea, for a post-tax consideration of US$68.053 million (about NOK 633 million) (the &ldquo Acquisition&rdquo ). The Yme Field is operated by Repsol Norge AS. The Acquisition further strengthens Lime Petroleum&rsquo s position as a full-fledged exploration and production player in the Norwegian Continental Shelf, following its acquisition of a 33.8434 per cent interest in the producing Brage Field in 2021. Production from the Yme Field will contribute to the Group&rsquo s target of reaching production of 20,000 bpd across various geographies. The Yme Field is located in PL 316 and PL 316B on the Norwegian Continental Shelf. According to the Norwegian Petroleum Directorate, Yme is a field in the south-eastern part of the Norwegian sector of the North Sea, 130 kilometres northeast of the Ula field (the &ldquo Yme Field&rdquo ). The water depth is 100 metres. The field comprises two separate main structures, Gamma and Beta, which are 12 kilometres apart. The reservoirs are in sandstone of Middle Jurassic age in the Sandnes Formation, at a depth of 3,150 metres. Yme was discovered in 1987, and production started in 1996. In 2001, production ceased because operation of the field was no longer regarded as profitable. According to the Norwegian Petroleum Directorate, remaining reserves in the Yme Field stand at 9.70 million Sm3 of oil equivalent i.e. there are remaining 2P Reserves of about 6.0 mmboe in the Yme Field net to Lime Petroleum. With this reserve base, the field has gone through a complete redevelopment, and production started again in October 2021. The field has undergone a commissioning period and is currently ramping up towards a plateau of about 5,000 bopd net to Lime Petroleum in late Q4 2022. Lime Petroleum intends to commission a summary qualified person&rsquo s report on the Yme Field after completion of the Acquisition. Mr Dan Broströ m, Executive Chairman of Rex International Holding, said, &ldquo This acquisition of more producing assets by Lime Petroleum is part of the Rex Group&rsquo s capital management and investment strategy to seize opportunities with an aim to build and unlock value for our stakeholders. As part of the Acquisition, Lime Petroleum will assume tax balances (as at 1 January 2022) of NOK309 million (US$33 million). Including the existing tax balance of the Lime Petroleum, the total tax balance will be NOK587 million (US$63 million). These deferred tax assets are recoverable for Lime Petroleum.
This is especially important as the Norwegian tax system has been restructured to a cash-flow tax, among which is the removal of the specific tax incentive for exploration activities from 2022.&rdquo &ldquo Rex considers the acquisition to be highly accretive and it will have a positive impact on revenue, EBITDA, profit and production in the long term. Completion of the Acquisition is expected in the fourth quarter of 2022. Similar to the Brage acquisition, the effective date of the Acquisition, upon completion, will be deemed to have taken place on 1 January 2022, as is the norm for transactions in the Norwegian Continental Shelf,&rdquo Mr Broströ m added. The transaction will be financed through a combination of cash at hand and funds from the NOK 950 million bond that was raised in June 2022 with assistance from Nordic independent investment bank ABG Sundal Collier ASA.
tonight " EIA Crude Oil Stocks Change(Aug 5) " data prediction +0.073m / previous +4.467.
US ask for more output from opec but expected change seems low, not going to stockpile
then go where.....still need import / export to tell.
US ask for more output from opec but expected change seems low, not going to stockpile
then go where.....still need import / export to tell.
I had the same gut feel that led to my disposal near 0.30. Plus there were signs of delayed announcement on material updates. These qualitative factors put me off. All the best. cheers.
ahberngh ( Date: 10-Aug-2022 09:13) Posted:
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