Fundamentals and General Discussion, page-180

FDR have a lot of irons in the fire to leverage this coming energy run with 9 concurrent projects and what I hope will be 2 to 4 more added to the portfolio over the next months. I think if we start seeing multi vector new flows from these projects we could start pushing a serious market cap leading into prospect drilling. We know things are bad in the oil market as the US is releasing another 26 million barrels from the SPR. Should be a big few years for oilers

https://www.reuters.com/business/energy/oil-prices-little-changed-nurse-last-weeks-losses-improved-supplies-2023-02-20/

"In that context, we continue to see a re-opening of China, and a rebound in China and global jet demand to drive upside risk to prices," Moore said. China is the world's largest crude oil importer.

Analysts expect China's oil imports to hit an all-time high in 2023 due to increased demand for transportation fuel and as new refineries come onstream.

China, along with India, have become top buyers of Russian crude following the European Union embargo.

At the same time, future oil supply shortages are likely to drive prices toward $100 a barrel by the end of the year, analysts from Goldman Sachs said

Prices will move higher "as the market pivots back to deficit with underinvestment, shale constraints and OPEC discipline ensuring supply does not meet demand," they wrote.