The oil price has been slaughtered.....again!! lets hope OPEC...

The oil price has been slaughtered.....again!! lets hope OPEC halt and maybe even reverse the bleeding Friday...

Sept production was up 1000 barrels from the previous numbers months low to 5696 barrels.....current prices received are around $50.....revenue at todays oil prices would run at around $3.3milPA......the cash spend is going to have to slow down significantly from previous months.....JV are going to be harder to find on favourable terms now the oil price has collapsed so I expect that will probably mean that even if co2 was around ELK would be more inclined toward chemical.......

I suspect the sharemarket still has a way to fall.....so maybe I was wrong, if the oil price continues to slide maybe we do see 10c.......OUCH!!!OUCH!!!OUCH!!!
cheers