Long Run Explor Ltd Ord WFREF

RE:RE:RE:major shareholders

[johnathamilton]

Lots of wells in final completion so new oil coming onto the market. GIve it another 3 months to peak.

Gasoline consumption is inelastic. We use what we use because we need to get to work, drive the kids around etc. We aren't going to quickly ramp up demand because the price is low. Watch the longer term trend. More buyers may purchase bigger vehicles which will increase consumption somewhat - but I think most people will be prudent. There have been enough shocking price increases that it will take a longer period of low prices to get people buying bigger vehicles. Don't forget also that climate change is on the minds of more people and that on top of the fear of future price increases that sense of responsibility will keep many buyers purchasing more energy efficient vehicles.