A matter of days or weeks...shorts time is running out.
Upstream is a media outlet with strong credibility. This is an important story - perhaps the most important since the first Exxon announcement. The offshore mafia can try to keep this down but its not gonna work.
Too many short shares - Exxon needs this deal - they are selling 35% of $50 billion Iragi project right before this - getting ready for this deal imo. They had a horrible quarter - their reserves are depleting at an alarming rate for a large company - THEY NEED THIS DEAL..Duma fave Shell in game now puts heavy pressure on XOM to close this deal in days or a week or two imo....what's really bad for the shorts is - they could be further crushed by an out and out takeover battle post Exxon deal...this is not going to end pretty....Hey I was once short IOC - it was easy when PM O'Neill was not elected - and the shorts had that and Duma and delays and Phil and BS blog lies and shorts trading among themselves on electronic exchanges off the NYSE...
But no longer - this could be the worst short in the energy field at current prices...any day an Exxon deal could be announced...and the shorts can't even play games and short more after the deal runs this to $120 or so - as there could be a bidding war for the entire company....Triceratops - there is ZERO in mkt cap for that.
Added on this dip the past two weeks.
This one is gonna happen....there are going to be some charred short carcasses on the side of the road in a matter of weeks.
If you are short IOC or intend to short on the Exxon deal news - you need to seek a different profession. This is the last stock I would short - and short the news will be a losing game because Shell could quickly come after all of IOC once the Exxon deal is signed.