Thread by @ANCALERTS

NOW on ANC: Get the real stories behind the numbers in today's episode of #MarketEdge with @michelle_d_ong.

@michelle_d_ong Energy Secretary Alfonso Cusi: 5 service contracts affected by exploration memorandum. #MarketEdge

@michelle_d_ong #MarketEdge Cusi: No condition to drop arbitral award in possible joint exploration with China.

@michelle_d_ong #MarketEdge Cusi: We're looking at a possible period of five years for joint exploration to bear fruit.

@michelle_d_ong #MarketEdge Cusi: West PH Sea may have undiscovered 7,000B cubic feet of gas and 6,000M barrels of oil.

@michelle_d_ong #MarketEdge Cusi: Boom in demand for oil will depend on how fast the PH economy recovers.

@michelle_d_ong #MarketEdge Cusi: 5 service contracts allowed to resume after Duterte lifted moratorium on oil exploration in West PH Sea: SC 72 with Forum, 75 with PXP Energy, 54/58 with NIDO, and 59 with PNOC-EC | via @michelle_d_ong

@michelle_d_ong #MarketEdge Cusi: It normally takes 6-7 years to drill, but some have started drilling / production already - so maybe in 5 years we will see these best fruit; SC72 - Forum Energy is looking for JV partners, even other SCs | via @michelle_d_ong

@michelle_d_ong #MarketEdge Cusi: We acknowledge our memorandum of understanding with China to jointly explore SC72, but there are no conditions to drop arbitral ruling in disputed waters | via @michelle_d_ong

@michelle_d_ong #MarketEdge Cusi: Shell’s sale of its 45% stake in Malampaya is a private transaction but we will evaluate, but consortium members Dennis Uy, govt have right to match any offer; deal quite complicated- contract with DOE ends 2024, so they are only talking about now until then

@michelle_d_ong #MarketEdge Cusi: Malampaya contract with gov't ends 2024, we expect current resources to run out by 2027, but some still betting on new resources to be found in new drill. Possible deal between shell and Ramon Ang, Manny Pangilinan is a private transaction | via @michelle_d_ong

@michelle_d_ong Angel Pacis, EastWest Bank: China Q3 GDP will probably be good, but it’s a “managed economy”; besides worldwide- we are already talking about another lockdown amid virus resurgence; PSEi to trade sideways with downward bias, investors waiting for 2021 budget | via @michelle_d_ong

@michelle_d_ong #MarketEdge Pacis: Risk-reward is scary given the volatility, the price (of stocks) can still improve, so keep powder dry--don’t sell, but wait for fire sales; foreign sell-downs due in part to budget impasse, lagging fiscal support | via @michelle_d_ong

@michelle_d_ong #MarketEdge Pacis: Car sales rising due to aggressive promos; people who are within “striking distance” of buying a car or a house are pushing ahead with purchases because of #COVID19 (and fear of commuting etc.) | via @michelle_d_ong

@michelle_d_ong #MarketEdge Pacis: Banks are deliberate. While they are exposed to ailing companies, they wouldn’t want to push the patient off the cliff especially if they’re handcuffed to the patient. I am confident a lifeline will emerge for airlines; even govt says it’s ready to support

@michelle_d_ong #MarketEdge Pacis says this commodity is good indicator for world economy; it recently crashed into negative territory - pulled past it, we see rounding top formed- which means dark clouds in short term; wait for more attractive prices in stocks involved | via @michelle_d_ong

@michelle_d_ong This is an indicator closely monitored by Angel Pacis of East West Bank. | via @michelle_d_ong

@michelle_d_ong Overland Kings Chief Adventure Officer Joel Conrad Pedro: Trend is now outdoors, this is the answer to tourism slump. Cars will be the main mode of transport for travel for next year/s amid #COVID19 fears. | via @michelle_d_ong #MarketEdge

@michelle_d_ong #MarketEdge Pedro: It's a great opportunity to appreciate the outdoors (instead of just flying over them); overlanding/ glamping here to stay | via @michelle_d_ong

@michelle_d_ong #MarketEdge Pedro: We’ve seen a spike in sales for awnings (supplemental roof for vehicles) for road trips. Silent Sanctuary campground in Cavinti a big hit we are opening in-City glamping site in Parañaque in 2 weeks | via @michelle_d_ong