Ivanhoe Energy Inc. (fka IVANF)

[manfromjax]

A "hoe" is to kind...
IVAN is like that sleazy hoe who's getting older, been all used up and is waiting for that big sugar daddy to come and take her away. However that sugar daddy sees those younger hoes down the road.

Anyway, I wouldn't be surprised if IVAN even broke through that .072 (I don't want it to, believe me.)


.... Some thoughts by someone else... (on those younger hoes...)

It was inevitable. The world's largest oil consumer, the U.S., is sitting on a whole lot of oil. As I explained last month, oil inventories are way over average. And they've continued to increase

Last month, the oil inventory was about 40.6 million barrels above the 10-year average for April. In May, the inventory rose to 45.8 million barrels above the 10-year average for May. And as of last week, U.S. oil inventories were at a 22-year high.

That's why the current price was unsustainable.

There's too much supply… and there's more coming. According to the Energy Information Administration, U.S. crude production in 2012 will be the highest since 1998. We will produce an average of 6.2 million barrels per day this year. That's 500,000 barrels per day higher than last year.

So how low can prices fall?