LSE tonight, page-1519

And even more bankruptcies in America, this is still only just beginning, last year it was mentioned in a report in the FT that once the oilers start going bust it won't be long  till some of the banks start going as well after lending massive amounts on money based on $100 a barrel and more. This could be the start of the American banking collapse which in turn will take out a few more oilers, it's all likely to get a lot worse before it gets better. But and this is a big BUT while a lot are going bankrupt the oil glut is declining and the oil produced is declining so the POO is increasing and in the meantime we being 88 Energy have 3.4 billion barrels of OIL and are still exploring and proving up our reserves with no money worries an estimated break even price of $34 per Barrel and 272,000 acres of oil filled land ready for the pickings of the supper majors when the price of OIL is right.

ICEWINE could be a profitable oil field now with POO at $47  so the Majors will be looking and waiting for that perfect time

http://mobile.reuters.com/article/idUSKCN0Y42BK