Chesapeake Energy Corp (CHK)

[ogbull]

UNITED STATES NOW HOLDS MORE OIL RESERVES THAN SAUDI ARABIA

July 04, 2016 Link
By Per Magnus Nysveen, Head of Analysis, Rystad Energy

THIS IS BULLCRAP FROM MANIPULATORS AND IT LOOKS LIKE IT'S WORKING!


A new independent estimate of world oil reserves has been released by Rystad Energy, showing that the US now holds more recoverable oil reserves than both Saudi Arabia and Russia. For US, more than 50% of remaining oil reserves is unconventional shale oil. Texas alone holds more than 60 billion barrels of shale oil according to this new data.


The new reserves data from Rystad Energy also distinguishes between reserves in existing fields, in new projects and potential reserves in recent discoveries and even in yet undiscovered fields.

In other words, this is a friggin joke based on oil reserves we never knew we had and might not even have. This is NOT PROVEN RESERVES!

Take this to the bank and they would laugh in your face.

"Other public sources of global oil reserves, like the BP Statistical Review, are based on official reporting from national authorities, reporting reserves based on a diverse and opaque set of standards."

An "opaque set of standards?" What the hell is that!

Some OPEC countries like Venezuela report official reserves apparently including yet undiscovered oil, while others like China and Brazil officially report conservative estimates and only for existing fields.

Rystad Energy now estimates total global oil reserves at 2092 billion barrels, or 70 times the current production rate of about 30 billion barrels of crude oil per year.

In other words,this stupid outfit "guesses" there is 70 time current production! And I am supposed to sell me stock based on this stupid guess!


The articles goes on to say that current data confirms that there is a relatively limited amount of recoverable oil left on the planet.

In other words, the rest of the world data says we are running out of oil, but this friggin idiot "guesses" we have a 70 year supply or more!

God... give me a break from all this bullcrap! What really gets me is all the idiots that believe it!

This is market manipulation in action and deserves the attention of the SEC and possible fine and jail time. But this is all legal because it qualifies all the lies as estimates and guesses on undiscovered oil reserves!

We got one more day of this shit and then I believe it will start to turn. Don't give away your shares!

Rystad Energy’s headquarters are located in Oslo, Norway with offices in London!

Two months ago the same idiot said:

Jarand Rystad, managing partner at Rystad Energy, told an audience at the Offshore Marine Forum in Singapore Tuesday that offshore firms should hang on to their employees and assets, forecasting that oil prices will rise to $80 by 2018 – and up to $105 by 2020.

2016 is a good "time for the opportunist,” he said, adding that firms with deep pockets and a long term strategy are positioned to reap the benefits of a price recovery.

"Even if you make very aggressive forecasts on current trends such as electric cars, LNG shipping and alternative energies, these won't make any meaningful structural impacts on the oil industry for another 10-20 years," he said.

http://www.maritime-executive.com/article/rystad-100-oil-by-2020