Originally posted by agentm
crude continues its bear market. in 33 years it has never been down 10 days in a row on the futures contracts trading.. so far its 21% down from october highs
thinking this in through in terms of best moments for oil acquisitions, this bear market is one moment for such an event. talk of opec break up is aiding this too.
cramers comment on the ferocious oil market
With WTI Crude currently at $61, and asked if U.S. oil prices could slide to $50, Cramer said on CNBC’s ‘Squawk on the Street’ “I could make a case for the $40s here.”
Pipelines are coming online in the Permian and Cushing is getting filled up again, which pressures oil prices to the downside, Cramer said.
“I’m just saying: look out, the economy in the world is slowing, demand is slowing for oil, and we’re pumping like mad, and it’s finally getting to market,” he added.
$40 oil!! thats going to bring forward opportunity
The problem for XST is that even if an oil bear market persists and good value acquisitions appear they have no money to buy anything .
To raise any meaningful amount of money present holders will be massively diluted .
There will need to be a fair enticement to get present or new investors to put more money into the business .
PCL selling their interest to REL does not bode well for things going quickly at Alvares .
REL is in much the same condition as XST , even more so .At least we are still able to trade .
They need to get some money from the legal action or things do not look good .
gltah
(20min delay)
