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VIRGINIA HILLS OIL CORP VFGGF

Energy Oil & Gas E&P
"Virginia Hills Oil Corp, formerly Pinecrest Energy Inc was incorporated under the ABCA on March 24, 2006 under the name Testudo Oil & Gas Exploration Ltd. The Company is a Calgary, Alberta-based oil and natural gas exploration, production and development company with operations in the Canadian provinces of Alberta and Saskatchewan."


GREY:VFGGF - Post by User

VIRGINIA HILLS OIL CORP > Has anyone noticed that world is awash in oil now?
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Comment by ofirmeon Oct 07, 2014 5:40pm
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Post# 23007716

RE:Has anyone noticed that world is awash in oil now?

RE:Has anyone noticed that world is awash in oil now?The world has always been awashed with oil. the question is the cost of it. give producers 
 close to $100 per barrell and they will have enough for the capex to drill new wells all the 
 time to replace production (shale = well over 50% decline first year). when price will go down, 
 the production will peak soon after and start declining within a year. have you noticed that 
 most of the new supply is pretty expensive to get out of the ground?
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