At least we're talking about the same thing now. Sxy has 8.3 million barrels of 2p as of June 2018. If they had of developed their oilfields and produced an extra 500 000 barrels per year for 5 years that's an extra 2.5 million barrels, which would still leave 5.8 million barrels of 2p left in reserve today. So to say most of the oil would be out of the ground now doesn't add up literary. So either you can't add up or are just stretching the truth. If they were still producing at around 1.5 million barrels a year the share price would not be where it is today. Besides we are transitioning into a gas company in about a year so that would be fine. Its not a cyclical low if you look at the history of oil it was 20$ adjusted for inflation for most of the time we've been using oil,it's actually closer to a cyclical high now.
SXY Price at posting:
28.5¢ Sentiment: Hold Disclosure: Held
