RE: Just rambling I actually think SNN would be a good buy post-tax-loss selling. The carry they got via Exxon is way bigger than they let on in their news release., plus they are keeping the convetional reervoirs. They basically got about $110-120M in carry through Ph1 and 2, of which about $15M is cah now. Yes they are still cash strapped, but they have some significant carries on 4 blocks.
Anyways, as far as PDQ, I will be looking to buy more next week. In my correspondence with Krishna, he was very excited about the chances for good flow rates at Dorados, and particularly mentioned the one formation in which they lost significant amounts of mud. If they did not mess up the well bore with that mud, it may flow very nicely.
Plus the fact is that CPO-5 is even higher impact than Talora, and their cost per well is very reasonable (particularly with 30% W.I). Yes, big x-factor royalty, but still a gem.
Also noteworty, their G&A is quite cheap (less than $4M last year). Good to know they are not throwing the money under the mattress.