Totally in agreement with Avemarie re : oil sentiment.
We are doomed if KAR management persist of going hard on their sentimental oil find in Brazil and also trying to buy some more high cost oil fields from Petrobras.
It is simply irresponsible to spend hundreds million dollars without certainty of an outcome.
The only hope the development will proceed will be the POO north of $60.00 by year end, based on what is in front of us, Buckley's chance that will happen.
That's simply means bad news for all shareholders
joint letter to shareholders, page-18
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