Ann: Merlin-2 Operations Update, page-24

The family have a lot of skin in the oil game as they say!

Oil Market PredictionsFri 17:14From Scott Sheffield's mouth to gods ears! He sees the huge potential in LNG prices in Japan (Asia market). This is coming from the largest shale producer in the Permian Basin and who's son Bryan is now a new Tamboran stockholder."Sheffield also said he is concerned with the possibility of oil pricing following what is happening with LNG prices in Europe and Japan. “That’s equivalent to $200 oil,”Pioneer CEO Scott Sheffield told CNBC this week that he sees oil prices headed north of $100 in 2022. Sheffield in an interview with Brian Sullivan said he was surprised by President Joe Biden’s release of oil from the Strategic Petroleum Reserve into the market, saying it was a “Band-Aid” approach and similar attempts won’t have much of an impact because demand will create a tight market by the end of 2022 and into 2023. “Oil is moving back to Brent $75 (Tuesday) morning and will probably be back up to $80 or $85 here in the next few weeks as demand comes back,” Sheffield said. Sheffield also said he is concerned with the possibility of oil pricing following what is happening with LNG prices in Europe and Japan. “That’s equivalent to $200 oil,” Sheffield said. “And so right now oil is cheap.” Sheffield said during the interview that “most people estimate a 4 million barrel a day increase in demand and that by the end of 2022, “we’ll be back … to 100 to 101 million barrels a day.” He also quoted Amin Nasser, chief executive officer of Saudi Aramco, about OPEC and OPEC+ being out of supply and extra capacity in 2022.