Hedged till 2016

From my reading of previous finance announcement we are mostly hedged for 2 years at around $85 which in scheme of things at the moment is looking pretty good! The financing agreement pretty much imposed that condition so maybe our competitors will not have as much hedging in place (i read somewhere till early 2015 in majority of cases though this will vary).

So from a long term investor point of view, we have ample return with locked in price, time to get contractors & equipment cheaper, time to get technicals bedded in, finance to expand if opportunity presents itself. Then in 2016 as wekaer hands have folded, price should be ready for rise to combat OPEC countries need to balance there budgets!