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Austerity reigns in Illinois

ILLINOIS Basin-focused Strata-X is just one of the juniors being trampled on in the war of the oil giants that believes there is light at the end of the tunnel for smaller oil producers, and while it is enacting austerity measures right now, it is planning for a recovery as the cycle begins to turn.

Haydn Black

Managing director Tim Hoops told shareholders this morning that there was little Strata-X could do to affect the oil price, which has fallen of 70% over the past 18 months because the world is "simply...

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