Post by
Reddale on Dec 02, 2014 7:25pm
Current price and where is the bottom
Wow not a nice few weeks. New Crocotta share holders must be done dumping by now.
I re-read the Nov 5th press release of 3 Qtr financial results and see a few points for optimism.
LRE can break even at a price as low as $67/barrel with current dividend. capex and debt servicing. Curtailing capex and selling unwanted properties just makes life easier
In 2015 they have hedged 30% of production to higher prices
So my question where is the bottom ?
Red
Comment by
miner8740 on Dec 02, 2014 7:50pm
the bottom will be when oil hits 50 dollars ,,,,Bank of America now expects Brent crude oil prices in the range of $70 to $75 for 2015. The firm also expects WTI crude prices to drop to $50 in the next month.
Comment by
butchart869 on Dec 02, 2014 7:58pm
Does currency differential effect the break even point per barrel? I see Canadian dollar is .88 spotted to the US doesn't that offset some of the falling Oil and N/Gas prices?
Comment by
99999gold on Dec 02, 2014 9:34pm
this had 63 reads and no answer? the answer is not material enough to hit the balance sheet but they will need to mentioned that they had a forex gain (or loss) on their next set of results.