Epstein Secrets

Lynch Global Research policies relating to conflicts of interest are described at http://go.bofacom/coi. tofA Mertig Lynch' includes Merrill Lynch, Pierce, Fenner & Smith Incorporated ('MLPF&S') and its affiliates. Investors should contact their BofA Merrill Lynch representative or Merril Lynch Global Wealth Management financial a

balances point to deficits of 210 kbd in 2017 and 90 kbd in 2018. We lower our WTI forecasts to average $47 this year and $50.bbl next year. We cut Brent to $50 this year and $52bbl in 2018. We now beleve oil stays in contango by yearend. but see a WTI forward anchor al $45.50 and S5 backwardation by

x (14.9%/2.45%) — you have upside up to 124.9% Regards, Amanda Amanda Ens Director Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park I 5th Floor I New York, NY 10036 Phone: Mobile EFTA_R1_01916498 EFTA02665816 This message, and any attachments, is for the int

project EM demand growth next year of 1.2mn b/d led by China and India, and see a modest demand contraction in OECD economies. On these assumptions, Brent should average $61/bbl in 2017 and hit $70/bbl at the peak of the US driving season. We've discussed Hess in the past which is still a high convict

a lookalike to Liza, we believe a ‘plus three year’ development scheme is a reasonable basis to frame option value in a success case. Under our $70 Brent base case, the theoretical NPV would be around $10/sh. This is on top of the approximate $12-14/ share value we estimate is reasonable for Hess from

nch Global Research policies relating to conflicts of interest are described at http://go.bofa.com/coi. "BofA Merrill Lynch" includes Merrill Lynch, Pierce, Fenner & Smith Incorporated (‘MLPF&S’) and its affiliates. Investors should contact their BofA Merrill Lynch representative or Merrill Lynch Global Wealth Management financial a