XR Energy (XREG)

[Man Utd fan]

ProfitScout,just got off the phone with XR Energy and got some good info! It appears $45 a barrel is where they start making money so they have Wells pumping again. For most of the year things have been on hold due to low price of oil per barrel. Buying the oil servicing company did not happen due to the low price per barrel for most of 2016 but is an option in the future. Audits/financials have been completed and are under review by another party before being released hopefully next month. This is all info I got from the company but I want to add the disclaimer that I have no way of authenticating it. Just repeating what I was told over the phone.

Price per barrel is the key to all this and we have to hope that OPEC cuts production as they had indicated at their last meeting which should drive the price per barrel up.

Hopefully next month we will see some action here!

This is as always all IMHO