Hi Mandurah....The link below paints a rosier picture for POO. Personally I think POO will be back closer to $100 before we know it. Nice to fill up cheap now but the the world needs oil and demand will be driven up by dropping exploration and production once the recently drilled wells stop or decline in their production. Once the Saudi's have reduced their competition to their desired satisfaction I think the screws will be tightened on their taps and the reduced production will see POO rise significantly. The Saudi's strategy will have worked perfectly for them and FAR. Cheap drilling costs for Senegal appraisals and nice POO price for production with a nice TO figure before first barrel by FAR is produced. Nice to still believe in Santa.
Article:
OPEC leader: Oil could shoot back to $200
http://money.cnn.com/2015/02/03/investing/oil-price-rebound-opec-200/index.html?iid=TL_Popular
Cheers
Plugged
PDYOR
Oil up over $50, page-12
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