All is not lost for Mesa Energy holdings. Remember July 1, when all european countries will not buy Crude from Iran. that will pull some of the oversupply down.also Iraq and Iran have joined forces in Opec and they could cut back production, along with the Saudis especialy if crude drops to $75 per barrel.Also Mesa brought in the good well at 12,000 ft. the next gas well was brought in at 10,000 ft. The third well they tried to bring in at 7,000 ft.evidently oil show on log at 7,000 ft.I am sure this will give them a lots of experience to learn what happened on the last well.they use the gas uplift system the gas pressure forces the crude to the top so they don't have to buy pump jacks or electric motors to pump the oil out. don't think MSEH goes much lower from hers.I think 13 or 14 is the bottom. I am not selling here. I can wait 6 or 7 mo for $ 50 cents per share.
