The website oil price.com is worth following. My situation is I have about 130000 shares purchased between 2.60 and 2.95. I'm having my broker tomorrow contact the company to get some clarity on what's going on. Supposedly they are invested in September futures but I have watched June futures jump from 18.30 to over 20.00 in the past 2 hours. Is no reason why June futures won't explode like the may contract as there is simply no storage left in the world. Tanks are full, ships are full and pipes are full. Trump can't afford for the U.S. oil industry to self destruct but I have no idea how he going to stop it. Their breakeven cost is around 50 a barrel. I'm prepared to ride it out but I can see more short term pain than upside. Oil is going to move fast when it does move but the question is will this happen before September contract expires. If I was wise I would have sat on the fence until there was confirmation the oil demand and price was on the rise. I guess I would like to see the top shareholders at present also. The company has a lot of questions which need to be answered for investors to make educated investment decisions. Oil could be $10 or $50 in a month, it's simply up to Trump. The oil producing states In the U.S. are hurting, there are large job losses and obviously large income drops.
OOO Price at posting:
$19.36 Sentiment: None Disclosure: Held
