Ann: Capitola Oil Project Operations Update, page-24

Good to have some discussion on the PYM boards for once. We even showed up on the day-trading boards today and have an entry in the Short-Term Trading comp.

WTI crude is currently holding $44.40 which is broadly where the first sign of support showed up on 13 January. It's hard to see that the majority of bad news hasn't already been factored in to the oil price - the surplus is well known and the market seems to understand that there will be an increase in stockpiles over the next few months. There are recent rumblings out of OPEC members that suggest a bottom might already be in place.

We are beautifully leveraged to any rebound in the oil price - I would love a happy medium somewhere around $65-70/bbl. Fingers crossed.