D Day for Woodrose to gain finance is approaching. There is no commitment yet.
A concern for the financiers of the $20 m plus loan, must be the oil price.
The oil price has fallen from $108 to $92 per barrel over the past 3 months.
It seems that this is largely due to a large increase in supply from with the US via fracking technique.
The amount of oil imported by the US has dropped. Also there is weak demand from Europe and China.
Just when we needed a high or steady oil price, we get a negative correction.
It will be an interesting 6 weeks ahead. Fingers crossed.
PKO Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
