VIRGINIA HILLS OIL CORP VFGGF

RE:With Crude @ $50.00 A Barrel

[nikehercules]

I'm not the only one to visit this gravesite:

Here's what I wrote on the MEG board:

Thanks - had gone up too far, too fast and WTI was still dripping down. Without a signficant reduction in US rig counts I wouldn't hold onto any long position in oil. I'm willing to bet the Saudi's are not going to back down. It will take some time for the rig count to drop, hedges to expire, and a significant amount of layoffs in Calgary to happen.

I like MEG, its got some debt so the equity should respond like a levered play on WTI.

However - the timing was sheer dumb luck.