$20 oil, page-7

Tony/b4b ....................... I agree totally that its time to buy, although I am a believer in waiting till I see it turn up before I buy, been caught out to many times by false signals. Once I see the supply/demand starting to come into balance then will buy, I also believe that next year the shale production will fall, they have been exceedingly resilient to date but if we see POO in the low $30's and dipping into the high $20's that will, IMO, be the final nail in the coffin.

And then Tony we will see your 'J' curve theory play out and the longer SA flood the market with oil the steeper the 'J' will be and little ole FAR is sitting pretty, they are well into appraisal at, what can only be described as, incredibly low rig rates so if the POO starts to lift 2H 2016 then mid tear and major oil companies will be frantically looking at how they can rapidly increase their reserves!!!!

Could play out beautifully for FAR IMO

HKP