Yes they have hit some hard formation rock on the way to the hopefully Oil bearing trap ... slowing down the drilling ..but at some point they should break through into porous HC saturated formation ...
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I bought some ADX and BAS today.The tiny oilers day will come and I reckon a big re rate will happen for the better ones.Many countries oil reserves are getting depleted and there is no solution for years imo,even if Russia/Ukraine war stops today. DYOR much more risk here at the small end,most of my oil money is in Woodside.
What's really causing an increase in Aussie petrol prices? Why the price hike would've happened regardless, and what petrol companies aren't doing to stem the increase in prices.
Andrew Purcell, Executive Chairman of Melbana Energy, an independent oil and gas company unpacks the reality of high petrol prices, what his company is looking to do as the world pivots to renewables, and how his focus is on earning his shareholders money.(really good interview ..I really like the point Andrew made that we have ALOT of oil ..we just need to come back and flow test with the right rig ..its only a matter of time)
Unpack it all with host Scott Phillips, and hear what's next for the energy market and the prices you'll be paying at the servo.
https://podcasts.apple.com/au/podcas...=1000567997007
with you on WDS as an added .. O&G looks a fairly reasonable prospect in current times of turmoil with other sectors getting demolished & sold down on the markets..
that said - there are some real steal situations developing which could take off when the markets wake up to the mining resources some Juniors are sitting on..
I'm still holding tight my larger positions in CUE,TEG,MAY .. just these three make up 60%+ of the portfolio base ...I'm that Bullish Oil Gas for the rest of the year and going into 2023 ... I think the narrative for the sector will stay very Bullish as #1 Energy exporter Russia is pushed away from European markets the disruption will keep prices elevated till 2024-25 I also think any recession will be short lived as rates will be dropping from mid to late next year ..this will really re-ignite the commodities sector..
And to develop and explore for all this high demand resources along with the whole electrification push NET Zero another MASSIVE shift in demands just think of the demands on resource when the human race went from steam /horse /sail to gas power ICE ...will consume trillions in capital infrastructure shifting from Coal power plants ... ICE to Battery EVs ...
IVZ "Resource Upgrade" due on Tuesday should be interesting.
First well due to be drilled at the end of the month.
Yes mainly too China / Russia other bric nations but with the exit of the western Oil companies tech expertise they believe Russia production will continue to slump ..also Russia is using Energy as a weapon against NATO countries and no way the rest of the world can fill the gap even if they wanted too as the infrastructure isn’t in place like the pipelines.. then you have the fact we had energy issue prior to Russia war … $150bbl oil is coming
IVZ.Huge upgrade.
https://cdn-api.markitdigital.com/ap...a206a39ff4rade.