RE:At $70 to $80 oil what's SP of BTE?Snowballer wrote: $80 oil within a year. Bear market will turn violently bullish imo.
Market is so putrid right now... the surplus of 2014 caught everyone off guard. Fundamentals are changing but just a little slower. 2016 showed how willing the market was wanting to 'shoot-up' on the next bully rally high. I think the markets will crave a giant bull rally like the drug addict that it is. The storyline will change in the blink of an eye.
Oil at 80 in 12 months is not possible without an embargo, war in the middle east. If you read any reputable analysts they are forecasting mid 50's oil maybe 2018 , everyone has been rushing the gate to drop thier forecast over the last couple of months beacuse they see no end to the supply/demand balance and with quantatative easing ending worldwide and rates increasing the chance of increasing GDP are slim. The USA has been in a bubble since 2008 and its time for a correction.
So my prediction for bte when oil is 80 ( in 2019-2020) is about where it is right now beacuse of its huge debt or it may not even be in existance either through chapter 11 or a low ball take out by someone who want's Texas, you see how everyone is biling on Canadian heavy assets lately.