From what we gleaned that is what happened last time with one of the funds. They had a lot of redemptions and it seemed that they were selling down no matter the value of the company.
It appears oil is in short supply and that the spare capacity is running on fumes so we will have to wait and see how it plays out. It is also possible OPEC is having trouble producing what was their spare capacity and they are looking at cutting back to more prudent levels.
Another thing that appears interesting is that the shale oil companies are mostly producing very light oil which I am assuming is not the type they can use for distillate and there is a possible shortage of distillate coming up.
It is going to be an interesting time ahead.
Hopefully Otto will have success in GOM and Alaska.
Ann: Quarterly Activities Report, page-80
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