Updated Charlie-1 target valuations Mean/Low/High, page-76

Yes, thats a far better response that the previous one by someone else.

However, I would also put into the equation, certainly for London, there are a lot of people sat on a lot of cash thats earning nothing. They want to buy things that are going to move.

Its like the summer months - lots of people sell out, have cash and when a stock has good news it really flies, like a superspike. Money piles in and more money piles in and more piles in........the momentum can be amazing.

Currently many people are sat on cash looking for opportunities to make money.

IF, and its still a big IF, but IF 88E has some good news, we could see a superspike on the share price as everyone rushes to buy and then the momentum and short term traders looking for a gain pile in as well. We shall see in due course.

Ultimately 88E is not producing, has no net debt, if fully funded and no intention of selling or producing in 2020, so the short term ism of the oil price is not really any valid concern to 88E.

As has been said currently we are seeing supply destruction. When supply is destroyed, by either wells being shut in, or by natural decline with no new investment we normally see an oil price superspike after that. The last cycle we did not as US Shale plugged the hole.

US Shale is now dead. Nobody will lend them any more money. That will only decline going forward. Its been one big Ponzi scheme thats now collapsed - the money tap is turned off.

So 2021 and then 2022 should see a superspike in oil prices as the consequence of supply destruction in 2020.

Markets look forward, not backwards. Looking forward.......just seems very exciting.

Many companies with debt are going to collapse giving rise to even more supply destruction - companies like 88E with no debt are well positioned, companies with debt are going to die or suffer severe D4E or CR to balance their books and pay off the debt.

Interesting times ahead.