400-500 mmbbl recoverable Piper spuds in 2 weeksWith North Piper ready to spud in about 2 weeks time, it's just a matter of time until people realize what a fantastic entry point this is fir BUK. Most spec plays like OYL, ENG, WZR, etc etc have zero backstop on the value and all have held market caps of $250-500 million at some point.
Well, BUK is ready to cash flow over $200 million per year starting THIS OCTOBER and is about to spud a well into one of the largest undrilled targets in the North Sea.
I find it unbelievable that there are sellers at current levels... out with the weak I suppose, because it'll be a heck of a run in short order IMO.
JMHO