Replies to post #490 on Sabine Oil and Gas Corp fka SOGCQ

[DocLevi]

Read from Hotstocks dated April 1 last night they had 460'ish million in revenue last year, ... with cash flow like that it shouldn't be hard to finance somewhere.

World oil production is 1.5 million barrels per day over demand now, but China wants to store strategic oil of 90 day having 91 million bbls for nine days worth ... still need 800 more but they have to build storage supposedly.

Global production now exceeds consumption by about 1.5 million barrels a day.
http://fuelfix.com/blog/2015/04/05/louisiana-oil-port-made-for-import-rents-domestic-storage/

annual revenues: $462 million
http://www.hotstocked.com/article/89701/sabine-oil-gas-corp-otcmkts-sogc-drops-below-a.html

Nov 20 (Reuters) - China made its first official announcement about the country's strategic petroleum reserve (SPR) on Thursday, saying the first phase of the government emergency stockpile is storing about 91 million barrels of crude oil, or about nine days of oil use.
http://www.reuters.com/article/2014/11/20/china-oil-reserves-idUSL3N0TA1QE20141120

Edit : Heard Saudi just did an export tax to Asia. Hmmm, maybe the Chinese planned the oversupply in order to cheaply fill their reserves, lol ?