re: at the open, page-36

re: at the open lol. Sandys but what a wonderful day as far as the numbers go. If only my portfolio could return a 6.4% gain everyday!

Seriously I don't believe that any of my oilers have been much affected by world events thus far ... except for XST (due to misconceptions of nearology). There maybe a cent in it ATM but that's it.

Looking forward, any further spread of North African revolts through the UAE and onwards to Saudi Arabia may trigger a global depression ..... but as Gadhafi is unique (in Saddam's absense) most unpopular leaders would (hopefully) depart before the shooting begins.

While I have been accurate in predicing the news on this issue so far ... predicting Libya is now beyond my depth. I can safely say that nobody would be pumping oil or loading ships if there is any possibility of air strikes against these facilities. How much degradation there has been to O&G infrastructure will depend on where it is. Some projects are being looted while facilities in other areas are reportedly being safeguarded.

If Gadhafi's men actually hold the line in and around Tripoli a very co-ordinated and logistically supported military action may be needed to dislodge them .... and I can't see this coming from anywhere obvious ATM.

Back to SSN ..... the key event for the LT stayers will be the first Niobrara drilling results, maybe with some earlier interest on publication of the 3d results and related forward drilling plan. It's all coming up pretty soon.

cheers