Hi All Underwhelmed by the SXY report noting that the JV that...

Hi All

Underwhelmed by the SXY report noting that the JV that DLS are involved in Sheerkhan-1 oil exploration well (PEL 182: Senex 57% and operator, Drillsearch 43%) has a chance.

The BPT report on the other hand has a lot of "cased and suspended" results, (5 in all, Pel 91) where DLS are participating, which is a big positive.

I would like to know more about what this next para means

Maupertuis-1,the second well in the program, was spudded in November with oil fluorescence and moderate gas shows in the Tirrawarra Sandstone detected during drilling. The well was cased and suspended, with
Beach electing not to participate.

What are the implications?

It's interesting to watch the tele and all the ignorant guessing that is going on out their. "Oil going to $40" and right away "oil going back to $100" or even $140. The media are falling over themselves with the reporting especially on the breakeven points for various producers. Yesterday the news was $60 - $70 for US shale then they trotted out a shale producer stating that " that's not true it's more like $40 - $50. Now we are hearing that new permits have decreased by 40%, banks are in trouble over lending, etc etc etc blah blah blah.

Prior to all this Elon Musk's Tesla was the being touted as the car of the future the poster child for the electric revolution. Now I'm hearing oh no it was never that it has always been a luxury car - and guess what was the highest number of vehicles sold last month in the US, high capacity engined SUV's and the F150. My point - oil is here to stay for now and the demand is forecast to increase by a million barrels plus a year for quite some time.

What is happening in the markets at the moment is a hatchet job and there will be some people making a fortune but only because they are legally or illegally holding and controlling the hatchets.

It is interesting the note that the AUD hasn't dropped like a rock and has held up quite well in the face of all this pressure and, moreover, gold has counterintuitively increased in price in the face of inter alia a rising USD and the vote going against them in Switzerland.

So what is really going on????????

As far as DLS goes it has to be the pick of the CB crop.

Cheers
BW
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Told by an idiot, full of sound and fury
Signifying nothing.