S/A spins negative yet again....surprise | OBE Message Board Posts


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Msg  14391 of 21771  at  9/2/2015 4:44:23 PM  by

spinergy

The following message was updated on 9/2/2015 4:48:33 PM.

 In response to msg 14388 by  pedriven
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Re: S/A spins negative yet again....surprise

Penn West actions were not an act of desperation they were a line in the sand. Penn West made it known they would bear the pain of low oil prices and not significantly hedge at lower prices or sell assets too cheaply.

Obviously Penn West management believes oil prices to maintain production in the world is much higher than the current oil price. Penn West is very much a highly leveraged play on oil prices and I fully expect BIG returns in the next year or two.


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