In a nutshell

I have been trading oilers for something like 20 years.
Mostly in the pre-spud phase.
Several days ago I took time to review the merits of the PVD scenario again.
And can only conclude this is the best pre-drill oil spec I have seen. Even better than HDR many years ago.
What a shame the savage caning of the oil price has tamed PVD's promise.
But with exposure to a best case 3.0 billion barrel target from 5 stacked targets.
And mean case 1.5 billion barrel target
Exposure to $US210 million worth of drilling over two wells.
Capped exposure to costs.
Cash in the bank.
**on farm-out, which must be in mature end of negotiations.
Has there been another better?
I can only think that if the market got a sniff that the OPEC is going to tighten supply.
The oil price will respond quickly.
And the oilers will respond (just like the iron ore types this week).
And PVD, which is now in the hot phase of its pre-spud run up, will show some real zip.
Nothing is certain in the market.
But a long history of oilspecs riding the vagaries of the ASX says that the next 2 to 3 months for PVD is set-up for a strong run.
So will history be denied?
I don't think so.

Gosouth