ctindale's forboding forcasts of $35bbl oil in the worst case scenario of world financial meltdown puts throws out any optimism for Grieve or Ash Creek.
I'm not sure; nobody can have any certainty as to how things will play out in world markets over the next 6-12 months, however, with all of the information out there in the markets it is interesting that JPM are forcasting WTI at $110 in 2012 (Currently $102bbl) and $118 in 2013.
Where will oil be in 12-18 months in times like these? We need $50-60bbl. In a best case scenario we could have double. Worst case...
ELK Price at posting:
17.5¢ Sentiment: LT Buy Disclosure: Held