Nothing we haven't seen before...

[ebster123]

Over the years we have seen many dips in IOC.  This is not pleasant but it is not new.  If there is educated information about why the dip , great.  If there is not then the bashes about management, Chandler.... are not fruitful.  As with prior dips, if you feel strong, reload.  If you feel middle of the road, hold.  If you feel like you want to BIOTCH and moan you may be better suited to sell and limit your losses.  I have been critical before as well but all seem to be moving in the right direction.  This is not the first rodeo for most of not all of us.  Just food for thought....

[Getitrt2]

I'm with you, ebster.

[Kaliboo]

I don't think there is any justification now to complain about IOC at the present moment. The oil and gas energy sector clearly is way out of favor right now as the global glut is taking its toll. As commented elsewhere, if these low oil prices succeed in driving demand up and production down, then it will also drive gas production down with it and LNG demand up, as is already occuring in the USA according to news reports. The major disappointment for all companies, IOC included, is the future is more uncertain than ever and big profits are further away too. Just the realities of the markets.

Instead of riding this beast down as I have too often before, I've stepped off the ride to look for a good re-entry point if industry indicators suggest re-entry is wise. Recertification I believe is a few months away and will only begin after all the wells are drilled. If a decision on A6 is imminent, then that will further delay unless they choose to work recertification in parallel with drilling. I think the companies would want to have all the data in their hands to generate their own answers prior to a full handoff to the consulting companies. But I'm guessing on that.

Good luck longs!