"nothing is safe these days." -D
I am waiting until the Fed does another 75 bps rate hike before starting to buying. If these rate hikes are sufficient to break any potential high inflation expectations, the pace and magnitude of rate hikes might slow.
The broader bottom might occur before the end of July, immediately afterwards or over the course of the following 2 months.
CGX Energy's Kawa-1 exploration well will spud in late September but in the meantime, another 75 bps rate hike could drive the share price further down. My hunch is that investors and traders will eventually come to the view that even if the US and EU economies slip into recession, oil prices will stay high because of deep structural supply issues. Valuations should lift.
I hope Sintana makes out well offshore Africa. President-elect Petro is unlikely to be enthusiastic about promoting fracking. Petro has plenty of stubborn ideologue in him,, no argument there.
But imagine that Petro really wanted oil exploration to continue. A ban on fracking might be the ideal sacrificial cow to appease his constituency. In that case, Sintana Energy's Colombian blocks would be worthless.