Oil Is Going Up
By Christian DeHaemer
Oil is hitting new yearly highs, hurricane season is just starting and oil demand in the U.S. is going up 2.1% a year despite high prices.
One of the few places left to look for oil is in Africa. And there are some interesting political power struggles going on in Africa these days between the U.S.,
Canadian, Australian and Chinese oil firms…
A number of Canadian and Australian oil exploration companies are getting concessions from the likes of Uganda, Lybia and PuntLand.
Oil on a bull run
Oil has been back on the Bull Run. Many oil companies are hitting 52-week highs. Futures are almost at $65 per barrel. OPEC said its not going to pump more. The new democratic congress won’t open the tundra, or offshore deposits to drilling. Its not even June and we have a named storm. Oil is going up I wouldn’t be surprised if we hit $80 oil by August.
That’s why I’m recommending oil companies that have ties to Africa. In fact over the past few years I’ve recommended Heritage Oil Corporation which went from $6.70 to $39 in the past two and a half years, and Soco international which went from 350 pence to 15,000 over the same period.
Heritage is an Iraqi oil play which just got a major concession from Uganda – and Soco is a oil exploration company that is run by Quadifi’s Son. Both have been major winners.
I’ve found another company, that has oil rights in Puntland. Look for that to come out this weekend.
All the best,
Christian DeHaemer, Publisher, The RedZone
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