Research Pit

[Mr. Zen]

Personal opinion of current oil prices:

Over the weekend nlightn and I did an in depth search of a certain new oil field in the United states that holds more oil than the main field in Saudia Arabia, or the Artic reserves.

This is primarily a new discovery and we have discovered the main players in this field. Is this the time to buy these undiscovered oil stocks???

The answer is NO

Oil has been driven up due to speculation from hedge funds and off shore speculators and within 2 months congress will have enough ammunition to start a full scale investigatio0n. The stratigic reserves will not be added to until oil hits $75.00 per barrel, so now we know the magic number that oil companies will be selling their product for and I for one would not take a chance at a long term purchase with a 40% haircut on the barrel of oil in the not too distant future.

this is, like I said in the open,, an opinion, yours may differ