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PetroQuest Energy Inc. Message Board

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  • clarkpetersen1944 clarkpetersen1944 Apr 24, 2010 6:10 AM Flag

    There better be a hella of drawn down to get these NG stocks moving again...

    Okay, here is a post. Note that in a recent redetermination PQ's credit facility was set at $100 million by its banks. Only $10 million is being used. $90 million is left. The price of crude on the international market was abut $70 a barrel back in 2009. It's now about $83 a barrel. Since the global economy looks to be in the early stages of a recovery, crude should go up still further. PQ won't have to go to a bank to resume drilling again. All Goodson has to do is give the order to start drilling again, avoid deepwater drilling (the recent BP disaster near New Orleans), and PQ PPS will go up. Look at recent PQ price and volume action on the NYSE.

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