Eagle Energy Inc EGRGF

RE:RE:The bid orders to buy are stacking up!

[JohnnyLingo]

ppp wrote: IMO opec won't have to cut. Going forward at these prices I see an over all decline in production of 10%  in NA. This works out to about 1.2 mil bbls a day. It is just a matter of time.

You can see Eagle had to let theirs drop by 5% and they have very low decline rates compared to the average

Perhaps, but on the other hand you have millions of drilled barrels in the US ready to be brought into production on a few weeks (or even days') notice, and Iran hasn't yet even started to ramp up.  Then factor in a global slowdown led by China and helped along by aging, lower-consuming populations in the West and increasing carbon regulation and green energy technology.  IMO it all adds up to oil prices remaining rangebound in the 20s and low 30s for longer than anyone, including me, wants to believe.  And apparently some smarter and better connected people than me agree: https://www.bloomberg.com/news/articles/2016-02-12/the-oil-industry-got-together-and-agreed-things-may-never-get-better. 

I hope I'm wrong, but past is not always prologue. JL

P.S.  I do see much more upside in natural gas prices over the medium to long term.