LAGO'S "GUESS THE PRICE" SWEEPSTAKES - winners announced!

Thank you for entering Lago’s “Guess the Price” Sweepstakes.  While I’m sure all of you have been waiting with baited breath for the Sweepstakes results, we at Lago Petroleum Consulting have been mourning the low oil price environment - which seemed to fall ever lower as our price deadline approached.  However, it is time to reflect on our price analysis, and we are happy to announce the winners.

Having assumed validity for each estimate of the March 16th WTI closing price, we had a P50 price of $54.30/bbl.  Our P90 price was $47.80/bbl, while P10 was $64.00/bbl.  It is abundantly clear that we explorationists are optimistic by nature, because the actual closing price on March 16th was just $43.88/bbl.

 Congratulations to our winners!  The top three players in our challenge were (drum roll please)…

1.    Tom Hewett of Enerplus, who won the Great Prognostication Award with his estimate of $44.49/bbl!

2.    Brian Murphy of Newfield, who was a close second, predicting $42.95/bbl.

3.    Lisa D'Ambrosia from Aspect Energy, who came in third with a prediction of $44.85/bbl.

 Again, thank you for playing!  Please visit us at www.lagopc.com for information on future events.