RE: Share price
Because of the oil spill in South Dakota a few weeks back our western oil is backing up and being produced faster than it can move south. While the oil is flowing again it is at a reduced rate and much more than usual has to be shipped south by rail which is more expensive. Our western heavy oil is only fetching 30.64 a barrel, being discounted 26.50 to WTI. Our western sweet light is fetching 49.64 a barrel, being discounted 7.50 to WTI. Most of Conas oil is heavy and draws a heavy discount, so not seeing a divvy any time soon or much price appreciation until these shipping problems are resolved.