From $40 to $80 to $35 to $75 back below $40 and north of $80 again. CLEARLY a indisputable display of struggle between fear and greed, regardless of what precise geological calculations said the value was.
Right. Reserves, resource estimates and probability of success are what is determined by the geologists. Oil prices are determined by the market. The combination of the two determine the valuation. Traders try to convince us other factors are important. And they may be for traders. But investors couldn't care less about extraneous factors that may momentarily take share prices above or below true values.
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