might not be such a bad punt... has held its lowest sp in the...

might not be such a bad punt... has held its lowest sp in the midst of raising capital while not having concrete results past the initial stage of its two projects...

wtic oil has gone from 107 to 80 (25% drop)...
brent oil has gone from 116 to 83 (almost 30% drop)...
85 brent is breakeven for US shale producers...
and 90 brent seems to be the level for Saudi budgets...
even though they recently stated they could cope with just below 90, for much longer... (although read into that the geopolitical blabla going on, particularly the negotiations with russia this month etc, and the publicly stated intention to drive oil price down to get at russia etc... but it would only take one incident at some refinery or similar by an unknown party to get that oil price smashing upward again..)

yesterday the US500 or SPX500 completed a 10% (on the dot !!) correction which was a first for a couple of years...

i been reading that things might go up again once the US midterm election is out of the way on nov 4... with a usual end of year rally... usually the markets rally for about 6 months from about election times over there...

so with whn having la bella farmout completed for drilling by years end... and also the fantastic seychelles 3d we are all waiting for; whn at its current level might in fact be a decent punt going into the new year... beyond that, i am not too sure... but from current position into the new year, i think that there might be a fair bit of upside...