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DegenerateGambler

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DegenerateGambler

Re: BuffaloTrader post# 220373

Wednesday, 08/18/2010 3:56:24 PM

Wednesday, August 18, 2010 3:56:24 PM

Post# of 363245
Only 18 trading days before Sept 15th. The climb upward should have started (or continued). This softening in the SP is worrisome. The SP should be going up with the pending announcement by Sinopec indicating going forward with Phase 2. Why no positive anticipation? Do enough investors doubt the commitment? Are the investors waiting for the actual announcement before jumping in? If this is the case will we see an immediate jump to the 50s/60s after the announcement? I think so!

Will news be released by August 31 as Prazeres indicates that "the operating oil companies must submit by the end of this month the 'most recent report' on the commercial value of existing hydrocarbons". Will Sinopec announce a phase 2 commitment?

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