from dallas

[setliff]

is this latest run of the oilers over we've had a serious pull back in some of those with supper gains, eg, wll, exxi, crzo, gpor, et al.

[dan_s]

Today's down draft caused by the dip in crude oil prices. There is strong support for WTI at $96/bbl which should hold.

News that Libya crude is likely to stay off the market for much longer should support Brent.

I am expecting some very strong Q3 reports next week. Check out SM today. Bakken and Eagle Ford companies reporting very nice production growth. More good news on the horizontal Wolfcamp should support the Permian companies.

You are correct in that it has been a very profitable run for us.

[cviller]

There's another Seeking Alpha hit piece on GPOR out today. I lucked out on that one -- rode it from 27 to 66 and managed to long term it -- but I got out because I couldn't understand Gulfport's relationship with Wexford Capital, thought the ceo's various deals with Wexford were passing strange, and questioned whether the board was strong enough or independent enough to effectively supervise the officers. Maybe it will double from here, I haven't a clue, but I took my profit. Great ride. Thanks, Dan.

[dan_s]

I believe I have posted here several times that GPOR is the one Sweet 16 stock that I thought would pull back this quarter. Their Q3 results may disappoint some analysts because the midstream companies are still having some difficulties in eastern Ohio.

I am out of GPOR now, but I will jump back in if it dips much further. It has incredible upside in the Utica Shale and in Canada.

I do think the market overreacted to EXXI today. It looks fine to me. I explained to one member on the phone today that working in the Gulf of Mexico is the opposite of North Dakota. In the Gulf you want to drill November-April when the seas are calm. EXXI is putting two more rigs out there to drill low-risk horizontal development wells. Their production and reserves will go up during the 2nd half of their fiscal year. Take a look at their presentation slides from the CC today. NAV is now $56/share.

SM looks VERY GOOD to me. Take a hard look at that one.

ROSE is showing some life. If they report good results in the Permian Basin it could move a lot higher.

Lots of investors focused on the commodity prices these days.