Denbury Resources Inc. (fka DNRCQ)

[Chartism]

DNR is in a better position than most U.S shale producers. With a positive EPS & 40 million cash from there sale of shale fields last month. It seems like it has a pretty good life boat while the $hit is hitting the industrial fan. But the saudis are gonna feel the price pain & pressure from other opec members. This isn’t a pump but a fact, there is a Saudi shake down on the Russians and US shale companies for a larger market share. But the lower oil goes the more pressure is put on Saudi just as corona is limiting its tourism. Also Opecs second largest producer , Iraq, has oil exports that make up 90% of there whole economy, this oil crash could have a big destabilizing effect on them which could lead to more violence and reduced exports longer term. That is speculation but is possible, the sectors a $hit show right now but saudis feeling the pain. And the world is on pause at the moment as well thanks to corona, but bulls will rebound. Takes time but patience pays, not just here but throughtout the sector. I would bet it’s low point bottom at 20$ a barrel, the only question is just how long does it stay there? GLTA & all is my opinion and not a recommendation.