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Mr.Hustler

5,753 Posts.

1132

23/01/16

15:56

Post #: 16856436
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Originally posted by kkw ↑

Hi all,

For months now, we have been hearing this and that about SA and it's decision to maintain market share etc etc. It's getting very tiring. This could also just be a lot of BuII $h1t, invented, first, to short the oil, and then when they had enough of it go long. This cycle of hi and lo POO has been going since when?

It just so happens that they are in a position to influence the situation by maybe just a few white lies.

Now having said that, we should now go long, cause I think they are about to start the next cycle up. Lucky for us HC people, we are already long in the form of FAR shares. The POO peaking may just correspond to our production commencing, if we make it that far, even if we don't, it won't matter because it'll be reflected in the TO price!

We have been held to ransom too many times, if the world wants to fix the problem, they can by boycotting their market and switch to new suppliers like Senegal instead. There are plenty of suppliers that can be brought on line, Unganda, Kenya, Sudan for example. I like to see then if they are still so cocky. I know, time is a factor, but it's worth it for the long term.

Between now and mid Mar would be the longest seven weeks ever.

This is all my conspiracy theory.

KKW

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Hi KKW,

The imbalance has been caused by the Americans and allowing easy credit for the shale drillers to go crazy trying to beat each other and increasing supply by up to 5 million barrels a day over a short period.

Nobody can compete with the Saudis from a cost per barrel extraction of only $3. They are the lowest cost producers in the world. We are lucky they can't produce more. West Africa will compete with the rest of the world for market share but not the Arabs. lucky for us we look to be much cheaper than the majority of non OPEC producers!

FAR Price at posting: 6.7¢ Sentiment: Buy Disclosure: Held
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