The past week has seen a great recovery for Oilexco. It has traded up and down BUT THE IMPORTANT POINTS are this :
1) it trades higher on big volume on the days it goes up AND
2) it trades down on lower volume than up days
3) the drill ship has been in place for almost three months - I expect great news
4) new all time highs attract more investors
5) analysts will raise their target prices because :
- the Company now earns more on a daily basis
- the drill results will add to that " wall of cash "
Please read yesterdays' extensive review of oil and oil stocks - in particular review the calls for a further jump in price this year and next. Here's the latest update on predictions for higher prices: Sept. 18 (Bloomberg) -- Crude oil prices may rise to $150 a barrel in the next 20 years because demand is growing in China and some other developing nations and reserves are dwindling, said the former chairman of the U.K. branch of Royal Dutch Shell Plc.
The world is running out of ``cheap oil,'' Ronald Oxburgh, the former chairman at Shell Transport & Trading Plc, said in an interview late yesterday from Ireland. ``The world is never going to run out of oil. The price is likely to rise so high, that we simply cannot afford to use it as a cheap fuel.''
Global oil demand is expected to rise about 1.3 percentage points a year from 2004, reaching 5.6 billion tons of oil equivalent in 2030, according to an International Energy Agency forecast from last year. Goldman Sachs Group Inc. yesterday raised its oil-price forecast to $95 a barrel by the end of next year.
from The Apprentice Millionaire Program Sept.19 http://www.amprogram.com
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