actually the glass is half full, page-17

Fin Review had a weak article "Is it too late to climb into oil stocks?" Weekend June 14/15. They have a throwaway line -

"After a surge as we have seen, it is invariable that the peak oil theory will again be trotted out as it has over decades"

Never a more dismissive line could be written.

They put it as a matter of personal opinion whether one thinks oil prices will fall or rise. This then determines the direction of the oil stocks.

Some credibility is shown by Peter Strachan - a stock analyst specialising in junior and mid tier energy plays.
He indicates - "people forget that the global industry needs to find something like 2.5mill bopd just to hold current world production rates"

He also reveals where some of our SP frustration may be sourced - "Most of the analysts out there have only begrudgingly lifted their long-term oil price to $US85 a barrel."

When these back room analysts finally wake up and advise the investment world correctly about oil prices, you will want to be well exposed to oil shares BEFORE the "adjustments" take place.

As opposed to previous market darlings like Babcock & Brown whose glass is suddenly and shockingly near empty.

I recon the JV will get to 20,000 bopd on the producing lease in several months. If it co-incides with a sea change in investment sentiment about oil prices then so much the better.