we are all like sheep---
the price of oil has dropped but so has the aussie dollar so we negate some of the drop with the favorable exchange rate---If interest rates here do keep dropping in the new year (and todays GDP figures indicate that will be the case) then the aussie dollar will enjoy (for us exporters)further downward pressure---yee haaa---so all will be well---so lets start pumping those chemicals down the well and start rolling in some cash.
$30.00 dollars profit per barrel when the exchange rate was .95 gave us $31.60 aussie dollars.
today at .65 it converts USD30 into AUD46
and in April next year when we chemical flood and the exchange is .57 it will be AUD52.63 note that $30 is profit after production costs---go stunner go stunner
Add to My Watchlist
What is My Watchlist?