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10 years ago all the oil experts around the world were talking...

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18,375 Posts.

189

06/01/15

07:15

Post #: 14540652
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Originally posted by MikeMennell ↑

Late last yr someone wrote: "What will SP do from here? Who knows but weak POO does affect earnings of SKE and can't be ignored. My best guess in SP will stay in $1.42-$1.65 range until interim ann lateish Feb or further update. Hold."

POO has fallen out of bed last night. WTI down 2.8% to $49.80 as i write with an hour before close. Considering crude oil is world's largest traded commodity it emphasises how crazy the whole mkt has become. SKE revenue has considerable exposure to oil companies and it won't be unaffected. Below $1.50 it stays a 'hold'. But agree its a very difficult mkt at present. AUD needs to keep falling.

Newbies can afford to be patient and watch from sidelines. can't rule anything out. I mean who forecast oil to halve in price in just 6 months!!! Mind boggling times.

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10 years ago all the oil experts around the world were talking about peak oil. Dont think it ever eventuated otherwise the POO would be $300 now.

SKE Price at posting: $1.72 Sentiment: Hold Disclosure: Held
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