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  • Goldman's Oil At $50 By 2020? [View article]
    Thanks, yes, predicting that far out is of limited use, IMHO. It's limited to extrapolating existing forces and developments, but for instance I'm not convinced OPEC will keep on turning the taps as this is turning into a bit of a stalemate, and they are incurring huge costs themselves.
    May 20, 2015. 09:03 AM | Likes Like |Link to Comment
  • Peter Schiff Quiets Critics As Weak Data Holds Rate Hikes [View article]
    Vindicated?? Schiff??

    Where is the bond crash, the economic crash as the Fed would stop with QE, the bond market crash, the dollar crash, the hyperinflation, etc. etc.

    Really..
    May 19, 2015. 07:50 PM | 2 Likes Like |Link to Comment
  • Goldman's Oil At $50 By 2020? [View article]
    Did you actually read the article? There is a representative graph from the Bakken showing a continuous increase in rig efficiency, but it's argued that the fact that rigs have halved and production has kept up is mostly to do with temporary factors.
    May 19, 2015. 01:53 PM | Likes Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    I'm not sure which article, but yes cost can be higher than in the US, but this actually demonstrates the scope for improvement. YPF has already seen well cost coming down and they expect further gains I think, from stuff like sourcing their own sand within Argentina.
    May 15, 2015. 01:41 AM | Likes Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    ["recent comments against the US shale oil industry and how it doesn't apply to MVN/MDLNF?"]

    Can you be a little more specific? I suspect you mean the fairly heavy leverage, in which case you already answered it, or so it seems to me.

    By the way, I'm actually trying to get a forum running here:
    http://bit.ly/1cOjlPQ

    So far it's just me amassing some materials, but it's easy to sign up (on the top of the page in small print) and discussion could be a little more orderly compared to here, as topics will have their own threads.
    May 12, 2015. 12:46 PM | 1 Like Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    Well as you can see, that average $/acre valuation comes from another article but I should have thought a bit about that before including it in here, you're right.
    May 8, 2015. 10:50 AM | Likes Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    No, the market cannot be that far off, obviously they wouldn't get $5000 per acre for most of their GTE lands, although they could actually receive more for some of their prime spots.
    May 8, 2015. 08:48 AM | 1 Like Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    Yes, probably. The funny thing is that this scheme started out as hugely undercutting world oil prices. There is an off chance the premium prices continue if the new government is convinced it's necessary for the shale development, but I wouldn't count on that.

    I wouldn't go nearly as far as to say the government is bankrupt, they have a dollar problem and an inflation problem, but not really a debt problem and even the deficit is fairly small and public debt/GDP is actually rather low.
    May 8, 2015. 08:45 AM | Likes Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    Since that was in the North of Argentina, and it consists of most of their acreage, the number would be low. From the top of my head they paid like $63M for that, mostly in cash.
    May 7, 2015. 03:10 PM | 1 Like Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    Well, for starters it's Argentina, there haven't been many transactions after the YPF nationalization in 2012. Second, as you already indicated, price per acre is a very rough valuation method. Actual transactions could materially differ. Most of their acreage is in the North, which is less prime, perhaps with the exception of Surubi.
    May 7, 2015. 01:17 PM | 1 Like Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    Thanks, I haven't studied Petroamerica in enough detail to come up with a well informed answer, I'm afraid..
    May 7, 2015. 10:08 AM | 1 Like Like |Link to Comment
  • Madalena Energy Sits In The Sweet Spot Of Massive Shale Resources [View article]
    So far little of their acreage has proved worthless, but yes, undoubtedly prices will vary a lot. What was taken was the range of deals in surrounding blocks and taken the minimum of that.
    May 7, 2015. 10:07 AM | 1 Like Like |Link to Comment
  • The Greek Left Is Right [View article]
    These are all very good ideas, I have to say.

    And thanks for the compliment. All I do really is cut out the political noise and use fairly simple economics. It's amazing how much mileage one gets out of that in almost any situation, teasing out the stylized facts.

    Not only did austerity create a disaster for many people, like your grandfather, it wasn't even successful on its own terms, debt/GDP just kept on rising due to the falling GDP. The troika should simply acknowledge that, it's an undisputable fact.

    Another undisputable fact is that Greek won't be able to pay off it's debt in whole.
    May 6, 2015. 08:28 AM | Likes Like |Link to Comment
  • The Greek Left Is Right [View article]
    Yea, well, it's not that difficult if one takes clues from Sweder van Wijnbergen.

    It's sad to see how most media, including many in my own country, portray this whole Greek episode in a very one-sided way.
    May 5, 2015. 11:06 PM | 1 Like Like |Link to Comment
  • Ellie Mae Is Due For A Breather [View article]
    At first sight looks like Q1 is another killer quarter, consolidation could be over, the company really is awesome
    Apr 30, 2015. 04:29 PM | Likes Like |Link to Comment
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