Hi Alfalfa,
The price is worrisome, alright, however, when I spoke with the oil co
exec (who hold our leases and permits) about this yesterday, I was
told that there is no change whatsoever in the plans going forward.
Right now, the problems are rig availability. Will some drilling be
backed off, probably, but that just frees up rigs for other companies
to get their drilling plan moving forward. If they changed their plan
every time the markets changed, they would never get anything done.
Price go up, prices fall down. Would I rather sell high, of course,
but the market will change ten times over before oil comes out of my
interest, so I will just trust that the company has 'our' mutual backs
covered...
Interesting conversation with that exec also, about the media-
promulgation of the sky-is-falling market concept. There is an
plausible idea that the market will again stabilize very quickly come
December-January...
Not sure if I would put too much weight into anything 'positional' by
the financial wizards, they haven't been right too often lately, let
alone knowing their own corporation's financial status...
just my .02 worth....
Keep your chin up -- this, too, shall pass
ruf
On Oct 15, 8:56 am, alfalfa <[EMAIL PROTECTED]> wrote:
> I couldn't help but notice this am that ND sweet has broken 60 bucks.
>
> Goldman Sachs reversed their position yesterday on the their target
> price of crude from 200 to 50. Wonder if they will be right on this
> call. I'd say by the looks of things they have a pretty good shot.
>
> If wti drops to 50 nd sweet im guessing will be in the 30-35 range.
> That would not be favorable for further development given 7 million
> plus drilling costs.
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