Far spreadsheet 500mb table interim DEC 2015 update, page-49

I dont see a problem Pj.

In this low oil price environment we pay half the price for our rigs and we pay twice the price for our money (in SP dilution that is).

It balances!

We dont have any control over oil prices, so it serves no purpose to discuss them or to work out figures based around todays oil prices when we all know that when this basin proves its value the oil price will be something quite different.

And if history is anything to go by.....then every OP downturn is followed by an OP upturn..

The length of this downturn and the severity of the upturn will be heavily influenced this time by new factors;

International politics.....and;

We have two of the most populous countries on this planet making and buying and registering cars in unprecedented numbers. Both India and China (seven times the size of the US) have burgeoning middle classes and they have been developing massive infrastructure, highways and bridges and road networks that take your breath away when you see them. Details of all of this can be found on the internet.

Sure there is a small and growing component of electric vehicles but they are more playtoys of the rich at this stage until they find better/cheaper power storage methods. As we all know just because the car doesnt emit CO2 on the road doesnt mean the coal plant that provides the electricity didnt.

New vehicle registrations in these two massive countries and in developing eastern European countries and SE Asian countries along with Indonesia (the size of the US alone) have not slowed...in fact because of cheaper oil they are expected to increase.....

Oil glut..................yeah right!