Here is a link to OPEC view of oil roduction & consumption over...

Here is a link to OPEC view of oil roduction & consumption over next 12 months. definitely worth a read.


http://www.gulfoilandgas.com/webpro1/MAIN/Mainnews.asp?id=6238

As for valuations, I think hartleys and Potters are close to estimating real value. It is definitely much higher than the market is valueing, makes you wonder if they are really getting the message out there.

Some of the selldown will be due to drop in production of 15% due to well shut ins while developing new wells. These will come back on line once rigs move of site. But overall $$'s from sales has increased 9%. So wasn't really a hit on bottom line, just semantics, lower production sounds bad... Increased revenue is GOOD!!!

Personally, with CVN's tenements in Aust, Thailand etc, they have far greater potential than people give them credit for. They have only just begun to develop thier fields, and now we have a new ventures manager to actively look for and instigate new opportunities.

I am stable on poo settling on the 100-120 range, for foreseeable future (12 months :0).

Cheers

Steve