CGX Energy Inc V.OYL

100m$ mc

[Harel1976]

that is ridiculous, i expect a 50% drop in the next 12 months...

[Kelvin]

And I expect wti and Brent to be $50 per barrel next year as Guyana continues to ramp up exports, TMX pipeline in Canada delivering 800,000 bbl/day and yes Venezuela coming back on line. Chevron currently has 4 brand new rigs in country, latest generation state of the art, big iron to drill deep wells. Gonna drill 17 wells as a start. $600 million dollar project, Reliance from India $2 billion

[Frank007]

U r nuts Kevin ...if you think Brent will hit $50 ....not a chance ....the production you gloat about is a drop in the oil bucket ....even when Guyana gets to 1 million per day the demand alone has grown 1.6 milion this year .....so never will supply catch demand unless a total depression ensues ....even if ....Venazuala tripled ....will not make a difference..!

[Kelvin]

Well Frank I'm probably wrong. That's my worse case. But this summer and fall we should see lots of volatility in the oil price because NOAA, this past Thursday, predicted the worst hurricane season in history which will no doubt curtail GOM supply. "The Perfect Storm" they call it. Much warmer sea temps in the Atlantic Basin and El Nino transitioning to La Nina meaning much

[Frank007]

I have seen the huracane report....that will surly raise prices not drop them to $50 ...

[Kelvin]

Well Frank my thesis is that oil prices will trend lower over the medium to long term with short term volatility spikes up because of hurricanes and I'm gonna put my money where my thesis is. September is peak month for hurricanes. NOAA expects at least 3 major hurricanes cat 3 or higher. Baytex bte is listed on the Montreal Options exchange. I'll wait until Sept and if a major hurricane