It wasn’t that long ago that we recommended avoiding equity stakes in most major oil companies for valuation reasons. As times have changed, we have changed our recommendation of the industry for fundamental reasons. First, like all global oil companies, the major Russian oil companies have been rocked by oil prices falling by almost two thirds as well as still being assessed at tax rates from when prices were high. We feel now is a good time to put these companies on your radar for the following reasons. First, we feel oil prices have bottomed and while we are not predicting exactly when they will rebound, rest assured they will in the not too distant future. Secondly, the lowering of export taxes will be lowered at the request of the government as increased oil production is a top priority. Lastly, these stocks present a compelling story just on a valuation basis, these bargain prices don’t happen often and at some point you might consider getting in on the ground floor.