A follow-up to comment on Temask selling its oil and gas E&P, Orchard, at the wrong time.
“Oil prices have fallen for the fifth day in a row, weighed down by a stronger US dollar and amid concerns over demand.
‘US crude oil for January delivery fell $1.31 to settle at $72.62 a barrel.
‘In London, Brent crude fell $1.24, settling at $75.19.” – BBC Online report. $=US$
Remember as the price of oil falls, the more the financial pressure on smaller E&P outfits. The slowdown in bank lending doesn’t help their finances. They will be under pressure to sell stakes in their properties.
