Oil prices starting to rebound even higher. Hopefully we have some good grade oil in there with our gas. Pretty sure the nat gas is methane.
Most importantly is , that as the info is settling in a day later,about the fact that pxp is Buying a survey ship rather than renting one like they did last time is very optimistic. It's almost the clearest sign that this is going to finally get done after such a long hold. I thought maybe it's for their itkin subsidiary. You know, the one that has the drilling contract in peru, but the stated specifically the contracts under Forum energy/pxp and referenced sc72. If I'm not mistaken , pxp was trading much higher when they were done with their first survey and about to drill, so we still have much higher prices to reach. Pxp has even more ownership now so they should far exceed their original rise even with 40% of sc72 going to china cnooc since we would have given that much to a driller to begin with. The threat of China being dealt with should also add value to the contract. Just my opinion. I've stated 15tcf but I've also seen as low as 3.1 tcf and as high as 20tcf. By the looks of the formation it looks very promising and surveys carried later on it looks like the 15tcf is actually possible.
There's a slim chance that the announcement of the survey ship purchase could be hype to keep pxp's stock higher while the dilemma with militarization by china plays out. I would lean towards them actually using it in confidence the deal is getting done.
With the world navies coming against china recently, china will need to sign this joint quickly to justify being in ph waters without being called out correctly for the invaders that they are. I wonder if this is the beginning of the Nostradamus prophecy. China ????/ussr/ Iran ???? against the world. Let's hope not yet as I need some spending g money before the show is over.
