Ann: Oil Discovery at West Tulsa Extended , page-65

June oil just crashed to under $73. July contract also falling but above $77. Oil stocks will not do well in this environment. Nat gas may recover in the summer as electricity demand kicks in. Consensus is around $5-6 MCF, but there is an awful lot of shale gas now going into production. European economic problems will further deprss energy demand expect oil prices to head lower. US$ heading higher to-day and Aussie$ going lower does not help things in the short term.

Technicals on RFE look awful seem to be heading into a bearish washout in the short trem. Short term OBV shows pretty aggressive selling. Looks like your typical "falling knife" better to stand aside for awhile until energy markets stabilize.