RE: North Piper well spud..I got in after they landed the horizontal at Durango. I have followed it since last year but only jumped in when the production well was set. I may have paid a few more cents but I saw lower risk going forward.
its still a buy in my mind. The North Piper OIl prospect looks robust with 3 stacked zones, and the risk/reward here is excellent with limited downside with Durango coming on production in October. They have other Southern gas basin prospects too. I lke the exposure to gas in Europe. Prices are $11-12 per mcf there.
It's like playing "21' with 7 or 8 after 2 deals and the third card brings up an ace. You have a pretty good chance of winning the hand. "Hit me!!!"
Bigbadun'