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Wednesday, May 20, 2009 6:29:41 PM
Are you sure about that? Let's see, we are an oil service company so yes high oil prices might be good. There, I am glad we cleared that up.
In a few years $62 oil will seem very cheap. The $147 price last year could be the norm soon unless we break our addiction to gas guzzling vehicles. There is a finite amount of oil and it is getting more expensive to find and extract it.
Deep Down IMO is well positioned to take advantage of future business in the oil patch, which is why it is my largest holding presently.
GLTA
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