Yeah I like conservative management and that's all I attribute this raising to. However management means little to me in evaluating the worth of a business. Especially a high fixed cost, large fixed asset base business selling a commodity like this one.
Failing a takeover it's the price of oil not management that determines future returns to shareholders. I just want management to keep things steady.
As I keep banging on, oil may seem high at $55 U.S Brent but only a tiny proportion of world production is viable at this price. Just like we had a "glut" caused by high prices in recent years we are now moving into a shortage caused by low prices.
There's been lots of rhetoric about how great America is but the reality is the cheapest oil was drilled first. Now it's getting more and more expensive.
Trump doesn't change that and there's only so long your laterals can go and so much proppant you can blast down before you reach diminishing returns.
I may not have seen a return on investment yet but that's no a huge deal to me, often I hold something for 7 or 8 years until the value I always knew was there reveals itself.
It will do so here as well eventually, maybe next year - fingers crossed.
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