Interesting to see Biden today approve the use of long range ATACMs by Ukraine deep into Russian territory.
While this cessation of supply is due to an arbitration claim between OMV and Gazprom (over OMV losses due to supply being cut to German subsidiaries because of NS1/NS2), the longer term theme of Russian gas supply to Europe deteriorating remains in-tact.
While Trump may seek a ceasefire, so far the terms being specified don't seem at all favourable to Russia and the latest escalation may put an end to any potential negotiations.
All we need is that positive flow test from Welchau. Management so far have delivered on schedule and within cost. From the preliminary information garnered from the initial discovery, the potential here is extremely positive.
ADX Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
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