News: Oilex sees “significantly improved performance” in Cambay 77-H well, page-19

Albright

I don't believe the Magna boys have made a mistake here and I suspect they hold Ron in higher regard than a lot of retail investors do .

These deep unconventional resources need deep pockets to crack . Let's hope we are almost there . Can see why Strata-X are concentrating on shallow prospects .

Yes Iran is coming online and Kurdistan will ramp up and a few other places too but how long can Saudi Arabia keep producing 10mm bbl/day and what is the water cut from Ghawar like ?

$80 oil doesn't suit anybody long term . If it continues it could create the perfect storm ; reduced investment leading to incomplete reserves replacement and oil price shocks within a decade .

Overall I think it will make the US think twice before allowing the export of US tight oil beyond Canada for diluting bitumen and Central America for diluting heavy crude .

Keep your powder dry . There should be some good opportunities to buy into explorers post drilling results rather than before .