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21/09/14

21:42

Post #: 14007200
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Originally posted by gosouth ↑

3500,

I note the "should" on PVD reaching 60.
I have been trading oilers for many years and few match the star power of PVD's well planned in Morrocco in Jan 2015
We are talking about a billion barrel oil target in hot territory.
PVD has ~$20M in the bank and is fully free carried on the well, with a second well also possible. The risk of a CR is low.
PVD also has a farm out due on a **on permit expected to be finalised in the interim which will kick it higher.
I anticipate strong trading by PVD for at least the next two months and 70 to 80c is a reasonable expectation, if not higher, particularly if the **on farm-out comes in.

PVD is a high probability trade at current levels IMO. I think the only risk with it right now is a downturn across the market.

Cheers
Gosouth

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I agree gosouth.
I don't usually play oilers ,but a while back I took a large (I mean LARGE) bet on PVD in the mid 20c.
The case of success is just mind boggling .
From memmory,I think they were talking about POS 30% in Mazagan.
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