Well if you think their current opportunity is so good and you doubt the bottleneck has effected the SP why do you think the companies SP is trading 50% lower than the last time oil was at this level.
Commodity companies prospects are firmly in the hands of the commodity price and management's ability to execute. In SEA case not one particular material thing has wipe 60% off the SP in 2 years .....it's been more of a case of a slow death by many smaller yet meaningful events....the bottleneck just being the latest.
SEA Price at posting:
43.8¢ Sentiment: None Disclosure: Not Held
