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wshaw14

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wshaw14

Re: None

Thursday, 02/25/2016 7:38:24 PM

Thursday, February 25, 2016 7:38:24 PM

Post# of 2595
IEA: Global oil supply growth plunging, with US taking biggest hit for now
http://www.ogfj.com/articles/2016/02/iea-global-oil-supply-growth-plunging-with-us-taking-biggest-hit-for-now.html

We do now know that the oil is extract able via steam assist at an even more economically than before envisioned. 2.1SOR is exceptional.
When the price of oil recovers (to a lesser extent than before thought) we will have a robust project that is ready to go and permitted for (25% of) 3200 barrels per day and a HCSS project already permitted. It may take some time, but oil will recover. Also keep in mind, even with all the bluster by Saudi, they are feeling the pain. Their comments about being able to sell for a profit at $20.00 a barrel while being true is leaving their budget in a deficit of about $70.00 a barrel.
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