Table of Contents
Table of Contents .................................................................. 1
Crude Oil Price Commentary ................................................ 2
Crude Oil – Supply/Demand Commentary ............................. 2
Crude Oil – Market & F/X Trading Commentary......................... 3
Natural Gas Commentary ..................................... 5
US E&P ............................................. 7
Oil & Gas Trusts ........................................................................... 13
Canadian Junior E&P .................................................................... 16
International E&P ......................................................................... 22
Oil & Gas Services Deck ............................................................................ 32
Risks to Our Crude Oil Price Deck ........................................................... 32
Price Target Justifications & Impediments ......................................... 33