joint letter to shareholders, page-36

Is the overall cost to extract the oil including development and production cost (pumping)
Around $45 to $50 as the case of KAR 's Brazilian asset would consider as high cost oilfield, compare to someone like Saudi , majority of their oil fields are sub $20, that means they still making shit load of money pumpimg at current POO.
Their intent is very clear - to knock out the America shale oil industry so that they can control the oil market again like the good old days.
The American shale oil is around $30 to $40 to produce, only marginally viable at today's POO.
Not too optimistic on KAR chances of getting the development going.

Put your thinking cap on, if you were in charge, come Dec.2016, are you brave enough to make a call to start spending and commit billions of dollars if the POO stay at current level or lower. The only hope for KAR - political instability or war erupt in the middle east, we can't wish for that to happen.