there is hope for sea, page-54

yes i know all that - i not arguing with you and there is no need to be defensive all the time. I know about hedging in covenants etc etc. Not sure what your point is above. I know as a E&P dont want to be hedged more then you produce - what are you 5

My point was simply there may be an opportunity to do better terms - may or may not happen - but if oil increases then because not 100% hedged (not that they should be as you so eloquently belabour) that you going to obviously get more upside.

Point 2 - they need to do around 150mm revenue which has a chance of being achieved albeit would be tough.

Yes the whole world who follws oil knows about the demand supply equation. What they are saying is that because players have hedged so much and have more certainty in revenue and compared to last two years at a good rate then shalers may pump like crazy which would soak up and may exceed any uptick in overall demand.

sounds like we going to have a fun year together - its all fun but dont take to personally - i will try and be more eloquent , pedantic and precise for you in future posts - but to date not wrong yet. cheers all in jest