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10 year chart above.
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C&Ped
From a respected accountent.
take current yr daily avg production on 32k bopd, thats 11.7m barrels.
if 4.8m barrels are hedged between 90to95 $/b, then thats ~41pc of total production hedges nicely.
so you could argue the SP is reflecting a massive drop on 59pc of its production, which is a massive disconnect, and imo presents a great value opportunity...
fear is afoot, but as we all know, its a fickle thing; turns on a dime. :-) all you can do is take your positions, and wait..