RE:RE:RE:RomaniaI agree that over time a lot of oil production is going to get knocked out. Tar sands oil, marginal shale plays and deepwater will go first. Although I didn't anticipate the oil selloff, I always thought it was important that Tag Oil / EW are such low cost producers at Cheal. Cheal North has low royalties of only 7.5%. They have roads and infrastructure there. They have low taxes. They sell at Brent (actually a premium to Brent), rather than WTI for the US shale producers. Drilling costs are very low (only $3 mil for E-6). Some of the wells like E-1 are still naturally flowing which lowers production costs as compared to wells that need gas lift. These are conventional wells (no fracking). The gas they prodice (starting in March) can be sold for almost 2X what US producers receive. So EW is not going to lose a price war.