TSXV:DZR - Post Discussion
Post by
qwqw on Apr 30, 2012 11:52pm
Heavy oil is up again
Western Canada Select heavy oil is now trading for $89 bbl,the year to date average is $78.
Diaz & Tuscany picked a good time to go after heavy oil.For those companies that are mainly
gas,the AECO spot price is only $10 boe.If finding costs are $15 boe and production costs are
$10 boe there's serious money to be lost.Q4 gas prices were closer to $20 boe and yet only
about half a dozen oil & gas companies with production under 500 boed had positive cashflow.
Tuscany's $1.7 Mil was the highest of the bunch.
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