Valueman, how can you account for my thesis oil will go lower in 2013. Strong production in Russia, US productionscheduled to nearly double, Bakken producers are even more than doubling production next year. Vehicles today are getting better and better mpg. Oil demand will lower in the US next yr.I realize Mgmt has a proven track record with honesty and results, however they cannot ignore the reality of 70 to 80 barrel of oil next year. Im still waiting for HEK to go under 3.30 to buy. I feel this is a better longer term spec play good luck.
I need some help. Walk me through US production doubling. We do around 6 million barrels/day of crude oil per year and another 3 million barrels/day of NGLs. We only use about 18.5 million barrels of oil (crude + all other liquids). So you are telling me we are self sufficient next year. If true oil would plunge under cost world wide.