This type of debate can go on forever, assumption of oil price...

This type of debate can go on forever, assumption of oil price of USD$60/barrel is equivalent to telling Coles and Safeways that you must reduce your sale prices across all its groceries products by 50% which will never happen..... Personally, i am doubtful if oil will ever test the USD100 mark again..... oil demand/supply will always and has always been in favour of the Demand side.....

By the way, CXY is in trading halt for financing of its project.... in summary:

1/ LNC, MEE, CXY have been doing all the right thing with their projects.
2/ BLK & GLX will definitely follow suit and both of these companies still cheap: BLK is $26mln in MC and still only a fraction of CXY.....