I want some exposure to the upside of an oil recovery - of all the small to mid caps this holds the greatest appeal IMO.
It's got a buffer on the balance sheet, and forward sales hedged at an attractive price.
Obviously there may be more pain to come with the oil price, but I can't help but think the complete destruction of the Ruble is the end game here - you can't annex a country these days and think you are going to get off lightly. It's one theory and I could be completely off.
Anyway - the likes of Chevron/Woodside/OSH all hold some attraction due to their size and scale - but I'm looking for a bit more of a return from a rising tide.
DLS Price at posting:
73.5¢ Sentiment: Buy Disclosure: Held
