Champ,
I did ring the Company a few weeks back. And, I didn't speak with a Company relation officer either, I can assure you.
If you remember, I posted some of my comments in the forum. And, I was told that only about 1/3 of the production has been hedged at the $80 mark. The rest is sold at market.
Current market prices are way below the $80US mark. They may go past that at one stage or another, but not now. And, IMHO, with the way the GFC is at present, it won't be for a fair while yet.
IMHO, it will be a very long time before the price of crude will be at the $US100 mark, as you wrote.
Buddy
simple maths, page-27
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