Russia are planning on $40 oil for the next 7 years.
The worry for Santos and some other oilers will be their ability to remain solvent if Brent persists at below $40 for a long period of time.
It looks likely that oil will still go much lower so UBS may be right in their analysis of Santos dropping to 37 c level if ongoing oli price below $40.
Santos Worthless, page-139
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