qtr ann oyt, page-31

I consider that many traders were able to pick up in the low $1s will off load into the Gulf DD news. However they will be not all that significant as a percentage of average daily turnover and amount to noise on SP. MAD will then trend up on the Gulf works progress, and jump on MAD acerage and production upgrades and spike into deep HI wells. $1.50 by EOY as base & more on upgrades.

Off topic but interesting view.

http://oil-price.net/en/articles/takeover-of-oil-by-militias.php