Oil up over $50, page-24

I agree, and I agree with mandurah but not sure about It going to the $30's.

It's too early for POO to rise again if the plan of the Saudi is to nail the shale and oil sands producers. I know from a friend there has been lots of layoffs in Canada in the oil sands industry but a few months of low prices won't keep them from restarting operations. Especially with the bankers knocking on their door looking for their money.

Also what's to stop the rig contractors from quickly putting their rig contract prices up, just as they have reduced them when the POO fell. IMO it's more beneficial for FAR to have low oil price for 2015. If what a lot of the more knowledgable posters on here are saying is true about COP and the big boys wanting proven reserves before a T.O then it will be at least start of 2016 before they start to make any moves of such at the earliest IMO.


It will also tie in well for me to cut my tax bill in half!!!