While I dont subscribe to the theory that POO will not return to $70 anytime soon - as nobody has a perfect handle on POO forecasts for starters, the deflationary effect of new technologies that seem to be benefiting shale production etc should also apply to offshore conventional developments. Also, low POO environment drives down lots of costs. AA will be developed at some stage.
AWE Price at posting:
51.5¢ Sentiment: Buy Disclosure: Held