South African Forex and Finding Oil

Discussion in 'Forex' started by goldsilverratio, Feb 4, 2019.

  1. Finding oil off the coast of Mossel Bay could be a ‘game changer’ for South Africa ? 4 February 2019
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    The field could hold between 500 million to over 1 billion barrels of oil equivalent ?
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    The outlook for finding hydrocarbons is extremely high ?
    The question is whether it is gas or oil, and whether it is a good-quality reservoir ?
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    South Africa Forex Trading = USDZAR, GBPZAR, EURZAR, CHFZAR, ZARJPY
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    https://businesstech.co.za/news/ene...bay-could-be-a-game-changer-for-south-africa/
     
  2. Sig

    Sig

    More quotes from the same article:

    If we can discover oil and gas here, that will be a game changer for the country in terms of the economy,” Mantashe said.

    We hope that we will discover oil so that we can reduce our dependence on imported crude oil.

    If I discover oil in my yard it will be a game changer for me. I hope I do. But it turns out hope is not a strategy and neither the South Africans or I have found jack shit yet!
     
  3. Stockolio

    Stockolio

    Why are you crying ? You are wrong once again, there will be a huge discovery in the Western Cape
     
  4. Sig

    Sig

    There may be. And there may not be. Since I didn't post any opinion on the probability of that eventuality there is nothing I could be "wrong" about there. The OP posted as if something he and apparently you both hope for had already happened. It has not. I am not "wrong" about that, the only assertion I made.
     
  5. Overnight

    Overnight

    There is that niggly bit of hope though! :)

     
  6. Discovery opens new petroleum play off SA's coast Feb 07 2019
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    Significant gas-condensate discovery ?
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    It’s a catalytic find ?
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    South Africa Forex Trading = USDZAR, GBPZAR, EURZAR, CHFZAR, ZARJPY
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    https://www.fin24.com/Companies/tot...ens-new-petroleum-play-off-sas-coast-20190207
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  7. Stockolio

    Stockolio

    https://www.timeslive.co.za/news/so...l-bay-could-be-a-game-changer-says-ramaphosa/

    https://business.financialpost.com/...d-gas-discovery-made-offshore-of-south-africa
     
  8. Coulda, woulda, shoulda.
     
  9. Ok, so is there a play to be made?
     
  10. Stockolio

    Stockolio

    Not for me, just pointing out SA Oil discovery was confirmed...
     
    #10     Feb 9, 2019