Providence Resources - Spuddy - The US Dollar has appreciated...

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Spuddy
10:32 13/01/2015
Spuddy
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The US Dollar has appreciated by nearly 20 percent against the Euro. The average cost of production according to Goldman Sachs has dropped by 25% due to rig cost reductions, service company reductions, steel cost reductions etc etc. Thus 40 dollars equates to circa 32 dollars due to forex changes and 25% reduction in costs takes the 32 dollars to 24 dollars we now have a new Cost of Production for Barryroe

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