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buc

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24/01/15

09:34

Post #: 14634981
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Originally posted by cmonaussie ↑

Can I point out the obvious math error(s).

1. Using $55.83 - the avg oil price using pipeline numbers for that location - and multiplying by BOE (which is increased by gas component). Use the blended BOE price of $53.18

2. If you calculate the product stream values separately and adjust for hedges my quick calc put $/Boe at $70.10

The when the money received is not a part of the calculation. The discussion is about Lifting costs, Cash Margin and pricing from a continuing operations view. Companies express derivative settlement gains/losses separately.

Q4 is over with. Q1 is the clear and present danger. Only in Apr will anyone know (unless SSN is forthcoming in Feb 10Q) whether those hedges can be monetized all at once so to speak or spread evenly over the year.

The data simply doesn't go away just because it isn't pretty.

Buc,
isn't EU and Japan printing money only going to make things worse as the US currency thus becomes stronger and therefore oil and other commodites go lower. We want the US Fed to initiate QE4 and print US$ debasing that currency and increasing oil price (in US$ terms). Also how do you record demand in US and yet have highest inventory supply in 12 years or so?

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G'day cmonaussie

http://usa.chinadaily.com.cn/business/2015-01/22/content_19381641.htm

SSN Price at posting: 0.8¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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Yasny, page-9

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