Opinion

Oil price, Plexus Holdings, Links to Premier, SDX and Jersey O&G. And finally…


Oil price

The only news in town is the Saudi/Russian rapprochement and the oil price is rising, albeit slowly as it takes on board the ramifications of the deal. Should it go ahead then the oil price hasn't risen enough although both are about 40 cents better again this morning, clearly a modicum of bear closing. Two things are emerging, both from the bearish camp, who firstly don't see the deal working, primarily as they dont exactly see eye to eye on Middle East politics, and secondly feel that the 1.8m b/d reduction is not enough and that there should be bigger cuts on May 25th. For me a rollover of current rates until March 2018, maybe with a review at the year end meeting would be good enough, a further reduction would certainly push the price a fair bit higher.

Plexus Holdings

A trading update this morning from Plexus, or as we used to call them, a profit warning. It should come as no surprise to market watchers that things remain pretty difficult for service companies like POS but it is important to differentiate the wheat from the chaff so to speak. The company says that the ‘challenging conditions continued in the second half of the financial year' which ends in June '17 and that opportunities are ‘taking longer to conclude'. With a number of potential new contracts I suspect in the pipeline it is wise to flag that they might now slip into the '18 financial year. Having said that, POS has undergone a substantial cost-cutting and restructuring process and has cut back capex substantially which will eventually pay off, this is a top quality company at the forefront of oilfield safety and will come out of the downturn stronger than before.

Link

In yesterday's VOX Markets podcast I talked about Premier Oil, SDX Energy and Jersey Oil & Gas, here is the link.

VOX Markets podcast: Malcy covers Premier Oil, SDX Energy and Jersey Oil & GasAnd finally… 

Last night Chelski, already in possession of the title beat the Hornets 4-3 in a spirited battle at the Bridge. Tonight it's the Gooners hosting the Maccams and the Baggies go to the Noisy Neighbours with the HubCap Stealers watching on hoping for slip-ups for the Champions League spots.

VOX Markets podcast: Malcy covers Premier Oil, SDX Energy and Jersey Oil & Gas


Visit source site

malcysblog.com/2017/05/oil-price-plexus-holdings-l...

Malcy's BlogPlexus HoldingsPremier OilSDX EnergyJersey Oil & Gas

More items from malcy


Oil price, BP/Cairn/Far, Amerisur, Sound, SDX, Serica And finally…

  Oil price A quiet day in the oil bourses in which the problems being encountered by Mrs Merkel meant that the market ended in a listless and slightly concerned manner. This morning the market is up by around 30c, again on very little news. As we run up to the Opec meeting there will be the us ...

Malcolm Graham-Wood - Malcy's Blog


Posted 1 day agoOpinion > BPoil priceAmerisur Resources +7

Oil price, SDX Energy, Zenith Energy, Wood Group, Sundry-Conoco-IR pay?, And finally…

  Oil price With a decent rally on Friday the falls on the week were almost negated, WTI was down 19c and Brent 79c by Friday's close which could have been worse. After all it was the IEA vs Opec reports week, I know who I would hire to write a life saving piece of work and the inventory stats ...

Malcolm Graham-Wood - Malcy's Blog


Posted 2 days agoOpinion > oil priceSDX EnergyZenith Energy +5

Oil price, Parkmead, Zenith Energy, Cairn And finally…

  Oil price The end of a bad week for the oil price as a combination of indifferent inventory stats, belligerent Russians an IEA report that didnt square with Opec's and topped off by Saudi Oil Minister Khalid al-Falih suggesting that world inventories wouldn't be below their five year average ...

Malcolm Graham-Wood - Malcy's Blog


Posted 5 days agoOpinion > oil priceParkmead GroupParkmead +5

Oil price, President Energy, Wentworth Resources, Premier Oil And finally…

  Oil price More drift yesterday as the Russians play a little politics, odd that…Oil Minister Novak held a meeting with Russian oil companies yesterday and the vibes from the meeting were in some quarters, oil is now $60 do we need to extend the agreement this month? Although they might be ‘ ...

Malcolm Graham-Wood - Malcy's Blog


Posted 6 days agoOpinion > oil pricePresident EnergyWentworth Resources +3

Oil price, Savannah Petroleum, Ascent Resources And finally…

  Oil price Oil bears were out in force yesterday waving copies of the IEA monthly report as if the agency rarely got anything wrong. As long term readers know, my view is that this expensive research company should do what the industry has been doing for some time and that is at least halving ...

Malcolm Graham-Wood - Malcy's Blog


Posted 7 days agoOpinion > oil priceSavannah PetroleumAscent Resources +4
All posts from malcy