Otatco, Inc. (OTI: Alberta) Message Board

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Gold/Mining/Energy : Otatco, Inc. (OTI: Alberta)

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To: Jason Krueger who wrote (30)	3/8/1998 11:54:00 PM
From: Yarek Szolomicki	Read Replies (1) of 54

Jason, aren't you afraid that the sector will weaken further. I understand we had a little bit of a rebound, but the holy grail is the price of oil. News reports just came out that Saudis will not bother with the emergency OPEC meeting and they will not limit production, because Venezula said that they won't cut it by a single barrel. So I wonder at which price will these guys start to think rationally. Saudis seem bitter because when they cut their production during last crisis they lost market share. It looks like they are willing to play hard ball. My question is this. At which price do Canadian companies remain profitable and will stay in operations, ie they cover their operating costs. Is $10.00 a good guess? And at what price would OPEC countries like Venezuela cut production because it's not profitable. I know it's an odd question but I understand you guys have some business dealings in South America so shine some light on it if you can. Thanks.

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