.

on that basis, assuredly >$85 (today's $ value) as that is the level at which Saudi sets its domestic budget

Question answered by Merrill Lynch:
"After a very strong performance (+15% on average) in 1Q12 with the return of risk appetite, the European E&P sector has pulled back sharply recently to post a flat performance year-to-date. However, the fundamentals for many stocks remain at worst unchanged and at best significantly improved. Our top picks remain: Afren, Cairn, and Tullow. And our top M&A candidates remain Ophir and Rockhopper.
Our commodities team make minor adjustments to our house Brent oil price assumptions: 2H12E moves from US$116 to US$106/bbl (FY12E US$109.4/bbl) and FY13E moves from US$120/bbl to US$110/bbl. Crucially, we still retain a FY12-13E average of c.US$110/bbl, and our long-term oil price forecast remains unchanged at US$95/bbl. Thus, we reiterate our positive stance on the E&Ps."

Ask the Saudis.
I would if I thought they would tell me, but yes, they still have a huge say in controlling the price.

Rumours abound that DANA is now moving up the priority table in terms of FOGL/RKH farm in partner.

Not far away from news methinks.



DANA's website says under its strategies :

Secure access to new provinces

......looking beyond our existing operations for growth from frontier exploration and new business development

I thought that she was taken over....didn't she win the eurovision song contest......going up in the world it seems......

There is a petition doing the rounds to stop the UK giving any further loans to Argentina, (yes, believe it or not we still are).
To sign this petition go to
http://epetitions.direct.gov.uk/petitions/34551

Would be nice, a surge in the oil price in Q3 as calls are made, giving a spike upwards in oil prices (and oil stocks all following) just as FOGL are drilling Loligo.

Perfect !!

http://newsroom.nordeamarkets.com/en/files/2012/06/120604-Updated-Oil-Price-Forecast_Perfect-storm-to-fade-soon.pdf

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Should be a strong blue day on the FTSE Monday.

US started to spike upwards when it became clear late Friday UK time that Spain would ask for and get their bank bailout.

Not only that good news but on Saturday Chinese inflation was less than expected, and now today Chinese exports are better than expected.

Lots of reasons for a very strong start to the trading week.

http://www.bloomberg.com/news/2012-06-10/china-s-may-exports-imports-trade-surplus-exceed-estimates.html

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http://en.mercopress.com/2012/06/11/opinion-poll-shows-support-for-cristina-fernandez-sliding-significantly

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It looks like the Falkland Islands Government want to make it very clear where they stand with Argentina.

http://www.bbc.co.uk/news/uk-18412195

http://falklandislands.fco.gov.uk/en/news/?view=News&id=774576382

Why do they want to hold a referendum now, 30 years after we so convincingly trashed the Argies?
The preference of the Falkland Islands' population has never been in any doubt.
Have they discovered that they have something worth protecting?

I think it's just to prove a point.
I would think it will be 100% to keep the status quo as any small minority against would no doubt be ostracised.

greek remember demos.

Hi Halifax,

Depends which demos you are referring to.

Borders might be in the first target now......suspense !......I will fall over backwards if a rns comes out with something nice....

Cairn were the top contender for farm in partner, but as the FOGL RNS said, the potential farm in partner had other corporate things to do and wanted them done first before committing.

If it is CNE then hopefully their purchase of NPE announced today is the last of the events to be done before the deal can be done with FOGL.

Interesting times ahead now for many reasons.

I like to watch the "Fear and Greed" index. We always get into Extreme Fear in June time, and the markets always recover in August onwards generally. So June/July are likely to be weak but we should, as history projects, see things get better in August/Sept/Oct - perfect Loligo timing.

http://money.cnn.com/data/fear-and-greed/

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The chart look's like we are entering the greed time

Charts=hindsight=guesstimates.

the future is spaceships!

cynic keep buiding hope they will fly!