RE:RE:RE:caseysdapperden wrote: Marin Katusa is no longer with Casey.Quit or fired?The world oil situation did him in regardless.
He emailed me [and others] prior to the announcement from Casey saying he had left. They both claim they are still on good terms and they have funds that they maintain together.
There are no more energy reports.
I follow a few of the junior oil explorers and they are all in the tank due to the price of oil. I just don't see PRD doing any drilling or spending any money until they are assured that oil prices are well above the $75 mark. A good portion of that $1.40 value was tied to the $110 oil prices. It's the same with gold.
The bottom line is all the profit for these type of companies is above $75. At $75 there's no profit so why drill find and sell it if you aren't going to lose money.
I get conflicting information on the projected price of crude in the fall in my inbox every day. Half say $75, the other half say it may go to $35. Hows a guy going to plan for the future if even the so called experts can't agree.
I suspect that Greenwood is hanging onto his money. I say his money because that $18,000,000 they had in the bank at last financials was at least 20% his cash. Maybe if he didn't own so many shares he might be risking other peoples money by continuing to drill and then capping the well to wait for higher prices. Maybe he's not doing it because he's fearful that oil may take years to recover. As some predict. I've read articles that basically outline that they feel oil may stay at these levels for a decade.