Moon Equity Holdings Corp (MONI)

[mdimport]

Watch for $30ish / BBL as the bottom, then a huge run up in price to $80:

"...Given the glut of oil already in circulation on tankers without customers to unload to, it is not inconceivable that the price of a barrel of Brent could touch lows of around $30, last seen during the depths of the financial crisis in 2008.

However, the retreat in oil prices to around $60 per barrel — a figure that in real terms is equivalent to around $17 in 1990 — will mean a pull-back in investment into drilling new wells and the expensive process of exploring for fresh resources. Oil majors such as BP, Chevron and ConocoPhillips are already reviewing their capital expenditure programmes in line with the new oil price environment.

“Ultimately, the massive price slump will put the brakes on supply growth,” said Commerzbank in a recent note. “As a result, Brent should cost $80 per barrel again by the end of next year.” ..."

http://www.telegraph.co.uk/finance/oilprices/11291080/Oil-contango-fandango-over-how-low-prices-will-finally-go.html