Hi MC No argument with your reasoning. However it is difficult...

Hi MC
No argument with your reasoning. However it is difficult to imagine that the US will sacrifice the shale oil drillers in the process. And over a two year period this will happen.
My take is, that in February, March 2015 the OP will be back to $ 80.-. The CAPEX has been decided and the reduced drilling will remain in place. Still cheaper rigs.
And at this level, Russia, Iran and Venezuela still suffer.
We are talking money here, big money. And this kind of money does not have such a strong political affiliation.
For the moment we just focus on Senegal. Besides Sentiment, there are few impediments working against FAR. As always, I remain optimistic. If all is true what we have been told, we are sitting on an oil mine. Just bring it on.