Maxell about Oil Supply destruction

It's really beginning to heat up now and more and more people are starting to talk about $200 dollar oil. Just to keep things in perspective this is what Senior Oil analyst George Maxwell said in September 2008. Below is what then he expects as not destruction of oil demand is the key worry but rather the constant, brutal and ever increasing destruction of oil supply kick in. Remember production peak and decline is one thing yet another and even more aggresive force then is the peak and future decline of oil exports from oil producing countries. As events in the Arab oil producing world now unfolds supply decline now is escalation due to political turmoil and unrest putting even more contraints on margins as it seens now oil is taken also from the stratecic reserves. That all spell less or no margin from that particualte source going forward.

•"We will see $300 a barrel -- or roughly $250 in today's dollars -- because oil supply will be so short. "
•"That ($300 oil) will be in 2015."
•"But even earlier, around 2010, more than 50% of the non-OPEC world will have peaked in its production of oil so the dependence on OPEC will become extreme. That will give OPEC a chance, I'm afraid, to lift prices rather more quickly on us than they are doing today."
http://seekingalpha.com/article/94294-charlie-maxwell-to-barron-s-300-oil-is-inevitable

Forbes: Well, it sounds like two very good ideas coming against the background you've outlined. Do oil sands have a more prolonged or similar kind of time frame over which to bring oil to market from them?

Maxwell: Well, it's a good point The average oil company, producing conventional oil in the way that we normally do, by drilling and pumping it out, will peak around the mid-to-late teens, along with the rest of the world, But the oil sands companies average about 2035 to 2045 for their ability to continue producing incremental barrels. So, they keep going for many, many years after the peak has been reached here in the teens by all the other conventional producing companies.

Forbes: I see. So they've got both a shorter-term set of circumstances in their favor and they're going to in fact benefit by bringing product to market down the line while building capacity?
Maxwell: That's correct. And they should become very much more valued by the market, because they will be relatively alone in their ability to bring new barrels to market
http://www.forbes.com/2010/09/13/suncor-energy-oil-intelligent-investing-cenovus.html

PGB.V

Efter gårdagens positiva nyheter så stängde PGB.V upp 33% i Kanada. Skall onekligen nu bli mycket intressant att följa fortsatta utvecklingen, dels hur man nu kommer igång med produktionen, och hur dels man ev kan jobba fram ytterligare mer produktion från den källa man sätter igång att arbeta med nu om ca en månad.

Det är för den här typen av helt konkursvärderade bolag som kommer med vad som visar sig vara mycket positiv info som har potential att verkligen värdemässigt skjuta iväg som en raket.

Så här har vi nu en klockren turnaround kandidat. Nu på mycket nedslagen konkursvärdering kommer gårdagens nyheter här som gör att bolaget kommer i ett helt annat läge:

Hmmm... I have to confess I do like in particulare these to parts.."production equipment in place" and "has licensed a second horizontal well in the adjacent section and plans to commence drilling in the second quarter of the year".

"The Company has set production equipment in place and will be placing the well on pump and looks forward to updating the market on pumping rates once established.

The Company is also pleased to announce it has licensed a second horizontal well in the adjacent section and plans to commence drilling in the second quarter of the year. "

Maybye C$3 is kind of low ..? This is the year of PGB?

PetroGlobe Provides Operational Update and Well Licence
http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n=8080351