The Plexus Group
Providence Resources
PA Resources UK Limited
Aurora Oil & Gas Limited

Find out more about Subscribing Companies
Unique access to oil and gas
investors. Global distribution
of company news.
Find out more.
Sign up for our free weekly newsletter
Informed comment and independent news delivered
by email every week.
Sign up here.
Find out more about Oilbarrel Forums
Management and investors
are brought together at our
investor forums.
Find out more.
Bulletin Board
Join other informed investors.
Debate oil and gas companies.
Visit Bulletin Boards.
Bishopsgate Communications
OPUS
BDO
Palantir Economic Solutions
Gas Boom! Optimising CSG Production & Utilisation Forum

News


November 30, 2008

Conference Report 1: Reasons To Be Cheerful For Weary Oilbarrel.com Delegates As Richmond Energy, Petroceltic International And Emerald Energy Hint At Better Times Ahead


By Martin Clark


Another packed house, Oilbarrel’s 22nd conference offered some crumbs of comfort to investors still left scratching their heads as to where it all went wrong. At the previous event, held in September, at the now familiar venue, The Brewery, delegates were rapidly trying to digest the flurry of news headlines proclaiming global financial meltdown. A topic of some magnitude for most ordinary minds, the effects of this deepening financial crisis are still unfolding. For many an investment manager in the City, these have been difficult times. Anyone who stuffed their portfolio full of oil stocks – from individuals to institutions – has almost certainly felt the downward spiral in valuations where it hurts the most, in the pocket, as share prices tumbled and the oil price collapsed. Still, at least they didn’t invest in the banking and financial services sector.

Trying to make sense of it all was opening speaker Keith Myers of Richmond Energy Partners, drawing on the experiences of the REP30 – a basked of 30 small to mid-size E&P firms that includes a number of oilbarrel.com regulars such as Afren, Bowleven and PA Resources. How things have changed during the year, he noted. In the summer, when the oil price raced ahead to US$147 per barrel, all the talk was of how high this figure could go before people started ditching their cars. Now, with crude at...

Restricted Area

Please login or register (FREE, quick and easy) to read the full article.