WEEKLY WRAP-UP 15 - 19 June 2020

WEEKLY WRAP-UP 15 June 2020 - 19 June 2020

Dear Inventors and Investors,

With Quadruple-witching gone we have won. Gold returned to 1743 per ounce and WTI/Brent narrowed to US$40 per barrel territory, still 25% down the level that fully balances month-over-month Azerbaijan state budget.

Weekly Recap:

Monday - the National Salvation Day - Baku City readies for 1Y-maturity discount bond auction by the Ministry of Finance the following day through the Baku Stock Exchange (the "BSE")

Tuesday - our order book gets filled completely at 8.00% YTM and all bids submitted are successful, the total value of entire auction at US$17Mn

Wednesday - British Petroleum publishes 2019 annual report indicating 33% natural gas recoverable reserves spike at the Shah Deniz II gas & condensate block in the Caspian Sea off the BAKU City Absheron Peninsula

Thursday - OPEC+ joint ministerial monitoring council (the "JMMC") meeting co-chaired by Russian Minister of Energy Alexander Novak confirms supply-cut truce amongst OPEC founding members and the Sovereign Wealth (Oil-)Funds, extending beyond July reductions in oil production

Friday - Market close in New York confirms adequate demand-side effects of the novel corona-virus being already discounted in both spot deliveries and by major oil futures contracts: West Texas, Brent, Urals, nonetheless leaving Shanghai International Energy Exchange crude contracts relatively illiquid

With Oil demand recovery on track, as well as proper hygiene and etiquette at the Oilfund.az, we do not see any far-reaching moves, such as the strategic investment by Mr. Zafer Sonmez (Turkey Wealth Fund CEO, the "TVF") into Turkcell to get the control of the Board with the goal to gain access to digital technology.

Oilfund.az (the "SOFAZ") also realises the strategy parallel to Turkey's TVF.com.tr:
1. Addressing the current account deficit in the non-Oil sectors,
2. Safeguarding savings of peaceful inhabitants;

... in a very safe, conscientious and conscious matter - the principles that guide us, as the beneficiaries, to gravitate into Azerbaijani Oilfund's strategic incentives. `Most importantly - the sign-posts for a secure entry into the new market are precisely laid out for You.

Willing to follow our path? Ping us for more.

Feel free to ask questions directly. Not considered investment advice as your R.O.I.'s may fluctuate - historic returns are not reflective of future earning estimates. Proceed with caution and assess risks investing in Frontier Markets.