Looking at the char from 2005 it appears the price was sub $50 for around 3 months from around Oct 2008 and then rebounded to plus $100 over the next few years. This I feel could be held for a longer period to punish other countries etc but feel it will rebound to a more sensible level eventually.
Discussions must be very difficult at present and remember we are the ones asking for money/funding, I would not be surprised to see another 6 months of waiting. I'm way underwater and will have to sit it out but if we were all honest you would be waiting before chucking money into any oiler!
Sadly this has taken so long through conception and on to production, getting to be a case of anything that can go wrong will. Always was a risk that not being in production asap by 2011/12 and now to '17 or '18 in a cyclical industry would clash with one of those periods, which as we see today has just happened in spades and will likely take years to redress itself. Buckle up for a long wait imo, unless one of the key components to this mess is taken out.
Have to admit this is now outside of BODS control, the oil price will steady one day but until then we could see horrific scenes. No leverage is my advice, we don't need sub $55 a barrel when negotiating contracts whatever people say. Holding and feeling another long road ahead.
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