Can you please expalian, rivered, what you mean by "uninspiring hedge positions"
From the quarterly oil hedges are at:
OIL HEDGED AT
Period Floor US$55/bbl WTI Floor US$60/bbl WTI Total Hedged Volumes (bbls)
2010/2011
300,000
600,000 900,000
This would seem to me (no expert) to protect from a drop in oil price below $60 (quite possible under normal conditions) and below $50 ( could happen in a crisis like last time).
So I don't see any great loss from these apart from cost of setting up, and of some use as hedges.
great value , page-12
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