No Oil Needed 2009 & 2010

[rovtastic]

Stock Exchange forums and message boards are rife with the news that the big oil companies don’t need to extract oil for the whole of 2009 & 2010..so they will be pulling the plug on a lot of contracts….This has really been discussed at length the past 2 days as the banks are looking even more dodgy now so the oil companies are keeping hold of there cash…….

I know a lot of us expected this anyway and won’t surprise many of the experienced boys…but time to tighten those purse strings even more now…..

Good luck…..

[Anonymous]

BS at itself as they can only store up to three months supply max, and better of investing their money as prime energy is overexploited than keeping it on the bank.

[Savante]

ROVtastic, I’ve been WOW for over two weeks now and been spending a lot of time tracking shares, especially of Oilexo…. I ain’t heard of this one – have you got a reference fella?

I think there is a lot to be said in terms of the current excess global capacity (prob in excess of 6mbbl/day) to produce being presently capable of matching forecasted oil consumption in 09/10 and actually probably even deeper into 11/12? In the case of cheap oil, it therefore makes little sense to develop fields at todays high service costs when you can delay for 24 months and save a fortune.

[Scott Beveridge]

Dunno dudes… there’s been a lot of backside twitches on the Zawya network (M. East) with concerns of the shrinking profits… Hmmmm… The likes of 2.5 trillion dollars just in the financial sector. Take it for what it’s worth. In the past they did it, and (I have a feeling) they’ll do it again…. Fill it in with you’re own suppositories from here…

[Savante]

As true today as it was in emperor Nero’s day……

beware the ides of march !!! 😯

oh and be careful not to fiddle whilst ROM burns….. 😆

Spooky !!

[Andy Shiers]

Nero played his harp whilst Rome burnt
It was Caesar who got his Hair mad in March and got stabbed by his best mate Brute 8)

[Savante]

🙄 I think I pushed it too far eh?? 🙄 pants ! I spelt ides wrong too !!

[Andy Shiers]

Well , lets see what Ideas ………………………Mr "Brownstain" can come up with at the END of March for the Financial tax year aye 😕
I think if anybody is a modern "Nero" it has to be that Turnip 😯

[Scott Beveridge]

The ides have it!!! Eeeewww!

[Anonymous]

The correct spelling is ides and as far as I know it is the 15th of March. 😐

[John Ferguson]

Gentlemen
I meet with the upper PM’s in the Gulf which has an affect on the worldwide market, they are telling me that as far as project planning worldwide they don’t have much on the table until the mid to late 2010. That doesn’t mean that we are going to starve or lose our flash cars, it just means that we should start to spend cautiously over the next year or so.
cheers

[John Ferguson]

Gentlemen
I meet with the upper PM’s in the Gulf which has an affect on the worldwide market, they are telling me that as far as project planning worldwide they don’t have much on the table until the mid to late 2010. That doesn’t mean that we are going to starve or lose our flash cars, it just means that we should start to spend cautiously over the next year or so.
cheers

[Andy Shiers]

In a word ………….. Bollocks !

[Scott Beveridge]

Indeed…. where is all this work coming from????

[Savante]

nah, I don’t believe in the economic downturn fairy anymore !! Getting bored of it….

Maybe we can start a new industry-wide rumour. Boats with 7m x 7m holes in the middle of them that need constant emptying…….. 😯

[Author]

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