Addax Petroleum (fka AXC)

[nordicroots]

You are correct that oil prices are falling. So are iron ore and other commodities as well. In fact just about the entire market took a dump on the news of China's retaliation to Trump's additional tariffs.

As you know it takes all kinds of buyers and view points to make up a market. Watching CNBC today and heard their analysis about the recent drop in oil prices and the observation they made about oil companies seeing their prices down so much against the backdrop of the oil commodity price drop. CNBC anchor Brian Sullivan said something to the effect that oil companies in general are down over 50% off their high against a $51 oil price this week and this is actually a lower price for oil company stock against a $31 dollar handle we saw in the last down turn. The point he was making is that oil companies are less expensive now than they were then.

The other point he made in that same report was to observe that while oil companies in general were down over 50% he contrasted that with the offshore segment of O&G which is apparently down only 46%.

So that sort of observation might suggest that the market is less fearful of the offshore production than they are on-shore.

Hmmm.... Who do we know with offshore exploration properties available?