there is hope for sea, page-52

page 20 of the sept presentation gives hedge contract breakdown.

One of the points I mentioned previously was the fact that not 100% of prodn. hedged

So yes when oil rises SEA is leveraged. If wti pops over 60$ then there might be an opportunity to hedge some more barrels for 2018 at very good price - this is where hedge management is really important and can make a diff next year if things fall there way. If oil falls quickly they stuffed.

As long as mrkt supported by OPEC and shale guys dont ruin the mrkt (from a pricing perspective through exhuberant supply) it could end up being a good year but as I said many times they need 15omm revenue to really make a diff to their bottom line and start to claw way back. Lets call that net 150mm to be clear .

Basically I figure they probably do bout 34mm last quarter in revenue. So 150mm not unreachable but all the stars need to align in 2018 to have chance