Epstein Secrets

to retail clients (as defined in the rules of the FCAand the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to limited regulation by the FCAand PRA - details about the extent of our regulation by the FCAand PRA are available from us on request;

balances point to deficits of 210 kbd in 2017 and 90 kbd in 2018. We lower our WTI forecasts to average $47 this year and $50.bbl next year. We cut Brent to $50 this year and $52bbl in 2018. We now beleve oil stays in contango by yearend. but see a WTI forward anchor al $45.50 and S5 backwardation by

a lookalike to Liza, we believe a ‘plus three year’ development scheme is a reasonable basis to frame option value in a success case. Under our $70 Brent base case, the theoretical NPV would be around $10/sh. This is on top of the approximate $12-14/ share value we estimate is reasonable for Hess from

to retail clients (as defined in the rules of the FCA and the PRA) by Merrill Lynch International Bank Limited, London Branch, which is authorized by the Central Bank of Ireland and subject to imited regulation by the FCA and PRA - details about the extent of our regulation by the FCA and PRA are available from us on request;

0/110% corridor variance Buy NKY Jun17-Jun18 18,500 strike FVA Long Russell 2000 vs. short S&P 500 Dec-18 var spread Buy 1x Jun17 64 call on Aug17 Brent futures, sell 1x SXEP Jun17 330 call Buy SPX 6m ATM call contingent on GLD 5% higher in 3m Long NKY - SPX Dec-18 corridor var replication Buy NDX To

efined in the rules of the by the PRA and regulated by the FCA and the PRA, and is distributed in the UK to ed, London Branch, which is authorized by the Central Bank of Ireland and subject to e from us on request; has been considered and distributed in Japan by Merrill and distributed in Hong Kong by Merrill Lynch (Hong Kong