Comment by
BioBilly on Jan 09, 2013 9:36am
Kaboom. Knocking on the $2 dollar door. Congrats to all the longs.
Comment by
radcat on Jan 09, 2013 10:04am
Nice reaction considering they only announced results from zone XXI. I do believe API 55.3 is the best grade Mart has discovered thus far and is the best rating I have ever seen in any of my oil investments, period. What a gift from the gods Umusadege has turned out to be.
Comment by
pistolpete96 on Jan 09, 2013 1:47pm
Post on IV board questions the value of API 55 crude. From Wikipedia: Generally speaking, oil with an API gravity between 40 and 45 commands the highest prices. Above 45 degrees the molecular chains become shorter and less valuable to refineries.[1] Any oil guys out there want to weigh in?
Comment by
mjh9413 on Jan 09, 2013 2:53pm
This is confirmed not only in Wiki but a report for Lousiana State referenced in the Wiki article. In addition to its weaker molecular chain making it 'less desirable for refiners' one cannot mix different API's to get a better oil...must be the reason for what is a tepid sp reaction...but what do they do with 55 crude? Anyone.
Comment by
oiljack14 on Jan 09, 2013 4:08pm
* okay I will weigh in. * this is terrific news...55 degree API oil is close to Malaysia's national oil type called Tapis. It commands a premium to our own light crude oil prices of anywhere from $1 to $6 or $3 to $10 over Brent if it is sold on to the world market. * almost like pumping gasoline out of the ground as Roady stated over on IV.
Comment by
terroir on Jan 09, 2013 4:44pm
OJ You are good. Your knowledge is greatly appreciated. Tip of the hat. Terr
Comment by
pistolpete96 on Jan 09, 2013 5:44pm
OJ and others: Thanks for the help on this issue. This is what this board is all about.
Comment by
grandpama4 on Jan 09, 2013 5:45pm
Just want to thank you for the clarification. You are a tremendous asset to this and I' m sure other boards. Thanks Again