i don't get it, page-9

SF,
API 48 is a measure of the oil's viscosity ( thickness, ability to flow ) API ( American Petroleum Institute ) grades crudes oils accordingly. A low number is consistent with thick sour crudes more suitable for bitumen, Heavy Fuel Oil refining whereas a super light API 48 crude is ideally suited for automotive fuels.

These light crudes are definitely past their peak production and are becoming increasingly hard to find. Accordingly a premium does exist in the market for such light crudes capable of being easily refined into avgas,petrol and diesel. Tapis crude is one such benchmark.

It will be interesting to get the Drill Stem Test (DST ) results from Snatcher 1 next week. John Campbell from O&G Weekly gave VPE/ITC a pretty good ramp last week. All the signals are green at this stage.

However, I agree the World economy is going into a W recovery with the W tilted over from left to right. This US led recession ( led by those 2 dipsticks Greenspan and Bush ) is going to take a long time to get over. But dont worry, it just makes these stocks easier to get before they accelerate through the roof in a year or 3.

For those interested please read Bill Powers 10 point energy presentation put out on 2 July. Sums up my feelings exactly.Google Bill Powers.