Bullish outlook for Oil due to supply and demand pressures.
One thing that is very important is the expanding demand for oil and the pressure it puts on the major oil companies to supply the market. The world badly needs success in finding oil in Namibia. It would be just pocket change for them to spend hundreds of millions of dollars in offshore Namibia, as they have done in other places in the world till they finally found oil.
Joseph Dancy, Adjunct Lecturer of Oil & Gas Law, Southern Methodist University, and Manager, LSGI Technology Venture Fund L.P. Joe talks about the energy market from a supply and demand perspective. He says that from an investor’s standpoint the bottom line is that global demand growth for crude oil is relentless. Supply is falling short of demand even without any additional production disruptions. He also adds there is little spare capacity, given production disruptions in Libya and Iraq. Joe also notes that China will replace the US as the world’s largest oil importer later this year. Joe believes privately owned reserves in the ground, in politically secure areas, should increase in value – and reward shareholders.
A company like HRT with it's large holdings in Brazil and in offshore Namibia is very worthy of the consideration of major oil companies.
