Now that the US manufacturing ISM survey has finally succumbed to contraction territory (sub-50) already seen by the Purchasing Managers’ Indices (PMIs) of the Eurozone, Germany, UK and China, we await further declines in the survey as well as a confirmation in services survey. The trend remains down especially as the latest Philly Fed survey…
It seems that a number of City analysts have taken a cautious stance in relation to the Nigerian Oil deal, even though Tony Buckingham appears to have pulled of a bit of a coup (‘scuse the pun) in relation to the boe (barrel of oil equivalent) paid of just $2.70 (not $1.70 as has been…
The “bearish consensus” was in deep trouble on Friday night with stock markets having the best month end rally for some months. Going into the European summit on Thursday, markets were extremely nervous and sceptical that a break through could be made on the Eurozone debt crisis. The bears believe that Friday’s upward dynamic will prove…
Highlights OML 30, located onshore in the delta in Nigeria, includes eight producing fields and associated infrastructure, including a segment of the 850,000 bopd capacity Trans Forcados pipeline The Proposed Acquisition represents a significant opportunity for Heritage to achieve a material change in production and reserves OML 30 is currently averaging gross production of c.35,000…
Todays report that RIM is considering a variety of options including an outright sale of the handset division, splitting into two or a partial sale of the company to a third party does not surprise us. Our fellow blogger Contrarian UK listed the issues surrounding the eponymous Blackberry maker in a post yesterday and we…
From Reuters today. Click here for news link Heritage Oil has agreed to buy a stake in a string of Nigerian oilfield assets, known as OML 30, in a deal which Heritage said on Sunday would diversify its portfolio and significantly increase its production capabilities. Heritage and its Nigerian partner, Shoreline Power, have agreed to buy a…
An interesting AGM on Friday for South Falkland focused oil explorer Borders and Southern. Thanks to Gramacho, Flying mule, stayhungry, fadilz on the iii.co.uk bulletin boards for some insightful posts as well as the AGM presentation (http://www.bordersandsouthern.com/media/pdf/AGM2012.pdf) from which I’ve summarised some of the key points. The company announced that the Stebbing drill and the gas…
The current sentiment backdrop for US & Global markets remains conducive to one in which equities are likely to continue higher and take out recent resistance. Below are 5 important elements to consider – 1. Short positioning. The disappearance of short covering that began in March and a build in short interest since May has…
Hello all new readers to my very first entry on the Spreadbet Magazine blog. I intend to share my thoughts & views on the current state of the market and, more importantly, the trades that I place – in short, I’m baring my trading soul and at the very least hope to illustrate where both…
