Oil Price, page-20

Personally I don't like the rising oil price, because of the substantial negative (ie increasing) impact it has on most other goods and services. But after forecasting the possibility of the oil price topping its previous high of US$147.27/barrel, some analysts are now suggesting that there is an increasing likelihood the the price will move above US$150/barrel for an extended period (potentially more than 6 months) with spikes up to US$180/b.

In its latest quarterly SGC reported its share of Canadian oil production was 470 boe per day. At US$150/b that equates to a net revenue of just under DOUBLE the current market cap of SGC of $13 million!

The current oil price is around US$117/b.