From what I read my understanding is that the price of POO recovering is very low probability. Indeed it would be a surprise to see the result of Opec meeting evaluating to anything other than holding the price low so that struggling shalers in the US continue to be kept under the pump.
Reason being is that if they allow for lower output it allows the marginal operators to continue production and survival.
I have read the Saudis are intending to expand and open their stock market with investments in other industries which is designed to attract capital inflows down track.
My thinking is that they think oil is a dead cat ..maybe a few bounces here in there but all the same the game is up.
Note Electric vehicle manufacturer Tesla have forward sold for 2 year delivery some 270,000 M3 vehicles in US alone at 35grand a piece and the chinese are set to follow into their own economy for obvious environmental reasons.
So based on those couple of facts where does that leave Karoon and us as shareholders??
Note Stevo's comment regards the perception ..stay in and hope or cut ties. Atm I hold but hey I do see the potential of the above and sad to see but...the writing is on the wall imo.
I wish for something to get me out at a better price.
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