More pain , and Montys prediction of 25c is looking pretty damn good. I'm trying to take some positives out of this declining sp and poo.
Firstly it gives AMU a chance to secure the 18m buy back at a considerable discount to their estimate. Thay have the money to continue exploration and production costs are minimal compared to others. They can continue to build reserves and up production for when things do improve. I think the low poo will hasten the worldwide recovery, (well for some, as some nations rely on oil) , a continued low poo could cause some production cuts for those with high retrieval costs and in due course that will lift the poo when demand increases. All of the above is good for AMU longer term of course. Their profits will be hit of course but it I doubt it will be significant. They are purely at the mercy and sentiment of the poo and market at the moment. AIMHO of course.
PS. Also gives the faithful a great buying op.
More pain , and Montys prediction of 25c is looking pretty damn...
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