Well, I hope the shares I started buying at $.28xx turn out better. Smallish position, but worth a flyer IMO. It'll all come down to the POO. I still think we've yet to reach a true "fair price" for oil - maybe on an intermediate basis. Though, we do not know what the bankers have in store for us. I'm a little leery on the overall economic impetus that goes into the mix, but feel they've "played" with the POO long enough. "Turning cash into oil" is one of my favorite phrases from the Ei board. I'm trying to digest the CVX acquisition and how this and more Major's moves may influence the future potential for oil prices. We all know how low POO can be leveraged by the financial system/economy. Question remains, "How addicted is the financial system/economy to low POO"? How much fiat can they print? How much of that can they throw at keeping the POO depressed? Gas was at $2.75 to $2.95 (name brand) in my Northern DC suburbs lately. I would call it inexpensive, but again - using Trump's tweet about oil a month or so ago, (which is obviously, regurgitated verbiage from the inputs he receives) mentioning "fragile", keeps me questioning.
IPCO/IPCFF took out PXX (Blackpearl) - SAGD/EOR operation - massive reserves of heavy oil - @.22 shares of IPCO per PXX share - not sure how this may relate to OBE's similar assets, but suffice to say, PXX was taken out for "a song", IMHO. However, IPCO/IPCFF is much stronger and PXX's top guy got a seat on the IPCO/IPCFF board. IPCO, may be worth a look - tough to buy stateside as I tried in the mid $4's, but felt the liquidity issue would be tough to pursue through a "non online" trade. Surprised, that an otcbb issue would not be readily available to trade.