poo poo-ing this NR makes it pretty obvious that the naysayers don't know much about farm in agreements. the farmee typically agrees to shoulder a large amount of financial risk... as I recently wrote... in this agreement they agreed to pay $9MM in drilling costs for??? a 30% cut of... absolutely NOTHING at this point... as for the bankruptcy chatter... W-H-A-T-E-V-E-R ... SNV was never going to be able to do this without a.) additional financing and b.) another partner. Managment said as much months ago when the same folks slamming this deal were poo-ing on the lack of news relating to the deliniation ... at that time it was all about "missed guidance"...
It isn't hard to figure where these folks stand... playing short is all about trying to hold the stock down long enough to give the fat lady a spank to ride the wave in... BUT given the volume thus far today I would suggest that the wave riders may have gotten left on the shore here...
it's my opinion git yer own.