lining up nicely(for those not invested yet) I know it's cheap now, but it could very well get cheaper over the next month or two. The worst is not over in this rough patch, when things get troublesome, it causes to go people to go looking for trouble and then they end up finding it, and it's somewhat self perpetuating.
However it shakes out, in a month or a couple we'll have certainty again, oil may be anywhere from 85-105 but at least we'll have more certainty in the markets. Oil execs are more willing to spend at 90 dollar oil with certainty than 105 dollar oil and a lot of uncertainty.
Things will stabilize when canyon is at its busiest, and who knows gas could even be $3/mcf by that time, which would be nice, but companies are still making money where FRC operates at these bargainbin prices.
QE3 in June is a good probability IMO. If China and the US start hitting their stride at the same time then look out, Europe may even be uprgaded to our ugly sister from hillbilly cousin by then.
There are lots of things that could go wrong between now and then, we've been hearing about the fiscal cliff, and know the debt cieliing is out there lurking, politics is almost guaranteed to throw wrenches in any way it can, but at some point when everything seems really bad, you've got to make your bull case, believe in it and put some money on the table.
That's the point i'm waiting for and canyon is going to be one of the main places i make my bet. GLA, long term this thing's a beauty