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walldog0

10/30/07 9:32 AM

#110496 RE: bayfisherii #110494

bayfisher....

maybe they just can't suck it out of the earth anymore, at the present rate, no matter what price it sells for.

Many believe Saudi Arabia is running out, and just can't produce like they use to....or soon will.
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oil-cowboy

10/30/07 9:41 AM

#110498 RE: bayfisherii #110494

Good point. Say oil goes even higher north and like you say these other fields are viable now on a cost basis. It would take years to get these fields up and running, as we all know too well. Definatly not a quick fix. With Asia's growth busting every yearly prediction forcast, even those smaller fields won't quench the worlds oil thirst. IMO oil under 100$ is going to very cheap looking back in a few years.

Were all in the right spot here folks. Yes we could get some quick gratification right now and get bought out for a few bucks, but the true glory of this investment will come when oil is 125/150$ and were sitting on billions in proven.

The wait sure sucks though.