re kik announcement out, page-53

I don't know what all the fuss is about either, KIK being short of cash somehow translates to a Nido problem, which clearly it isn't.

Further, the concern about the price of oil. Nido are amply on record factoring oil as low as US$40 a barrel, yet operating costs and marketing expenses are fixed at $10.50, which translates to a lot of profit for Galoc. Indeed they expect their share of Galoc will be US$100m, with costs taking up about a quarter of this.

And as for $25 oil - in your dreams. This is the stuff headless chooks prattle on about. Maybe $50 for a very short period of time, then we will witness a production squeeze.


I think the irrationality of a bear market is truly an amazing spectacle, fables to suit a given occassion, such as this, are woven in an instant, facts become meaningless, and fear inspired goose bumps stand out like a beacon.