drilling success, page-18

Hi Kwaidan1

I notice your reference to broker upgrades, were you refering to Goldman Sachs ?

Article in yesterdays Fin (p.34)

Without any major supply disruptions GS expects oil to trade north of US$100 barrel for some years. They raised all their price projections by US$15 and expect an average US$95 over 2008, US$105 over 2009 and US$110 over 2010.
Any major supply disruption over the coming years could see oil at US$150-$200 barrel according to their estimates.

Economists sight dissapointing production from POEC nations and increased demand from non-OECD nations.
Not to mention Peak Oil.

Price of Oil holds US$110 overnight

regards

The Dog