It all depends on oil recovery and how fast. Yesterdays relaease was a glimpse to the past where solid hedges were in place. As those hedges run off the books then the real heat is turned up.
So its about timing and how it sets up for the next few qtrs- to me yesterdays report was insignificant.
Not how much you pull out of the ground, it is what it costs and what you can get for it !
Its why oil continues to go down and will until U.S. production is cut by a wide margin- which is probably summer. No place for storage !
Throw Iran into the equation and it really gets messy.
I'm waiting for capitulation when oil goes down 10-15% in a day and recovers- then I'm in.
About time for some consolidation to begin. I'm a long term holder so don't really care. Payout will be better long term but could see someone picking up WLL at a bargain of around 50 bucks.
If you guys think the stock movement over the last few days is because of a day trader - you better go to Mutual Funds-
TPLM is under performing all other small cap oils
Amman, Jordan (CNN)ISIS militants have attacked Kirkuk in northern Iraq, an effort that might be an earnest attempt to capture the key oil-rich city or perhaps to divert Kurdish troops fighting to capture the Islamist extremist group's stronghold of Mosul.
For months, ISIS has been facing off with the Peshmerga -- armed fighters who protect Iraqi Kurdistan -- to the west of Kirkuk. It had gone into areas on Kirkuk's outskirts, but not the central city.
We most likely hit bottom- that is what brings a dufus like this out !
Do the math- would Saudi's rather sell 10m barrels at 70.00 or 8m barrels at 100.00
Don't under estimate the power of pricing. All else the last 30 days is press rhetoric. Load your wagon this to shall pass.
They aren't going to put any reputable Shale player out of business. Emerald yesterday as little in their CC stated they could be profitable at 55.00 a barrel- and they are small potatoes.
Oil most of the time declines into an OPEC meeting. Then stabilizes and moves up.
I heard a good point over the weekend- if the Saudi's really want to drive the price down they would step up production, increasing the glut- that is how you put mom and pop to the sidelines. So for now its a game- oil will find its bottom and move up over the next 30-60 days.
Dishonest people in any industry trying to get a head in unethical ways. Sure glad this board has you to throw stones when ever possible !