Oil price going forward, page-3

Hi Hustler I wouldn't take to much notice of whats written about the price of oil in the future it's not possible to know , its just a guess and they will all be different and most will be wrong...as for the unconventional production in the states, it is topping out as we speak and with 60% less rigs operating and the count still falling plus a very high decline rate, can only go down in the medium term, although with a lot of completions still to be done a real idea of whats happening will be next year IMO.

The price of oil does affect FAR by sentiment and the value placed on its leases but for the Senegal projects a low oil price is good news indeed as we aren't producing from it and it also keeps pressure on costs which have already come down considerably. It's a dream time for appraising , developing projects that won't be in production untill around 2020 and who knows what the oil price may be then..

Cheers Whisky