oil prices will stay depressed now for at least a decade. Europe heading for a massive recession (followed by breakup), Japan already in one, USA has it's own shale oil now suplemented by Canada via Keystone (when built), china has deal with russia on eastern siberia and iran, plenty of new oil in paraguay, uraguay, bolivia, venezuela. $140/barrel oil sparked overinvestment in oil exploration and now we have the resultant oversupply. as much i had hoped Surprise would be more sucessful, it is now not the immediate focus. Supplying Gas to LNG market that is going to need more supply is what it seems to be about. Surprise East will probably not be drilled. RC is probably looking to sell it for a bit of cash flow to pay his bonuses...
CTP Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held
