RE:RE:RE:RE:Comments on Q and A follow-upReally? Now that actually middle of the road optimism dressed up as pessimism.
Its much more likely we will see either $1 or $20 rather than your nice safe friendly $2.50, and then look for the next step on the investment ladder.
Personally I am looking for the $20 and the fact that they haven't tried to downplay Chinook's oily prospects at this point makes me think they are pretty certain they are going to prove up oil there, otherwise they would be downplaying it like crazy.
Don't write off the gas either as it sounds like they screwed up the drilling protocol as much as anything.
Like it or lump it this is a binary bet on those big drill holes upsides or maybe not.
But to be fair the legacy, Coho and Cascadura means the current price is probably 80% protected, but there is always that very nasty 20% risk.
So don't look for guarantees where sharp drills are involved. That's what happened in the fracked shale patch and it didn't work out too well for them.