valuation
I think it's a mistake to value this stock and DXE purely on the fundamentals of one hit in this field, and the cash flow from that hit. You have to look at the bigger picture here. If they validate this field by hitting big time oil, then they are worth a lot more than the cash-flow from BHN-1, it's the future cash-flow that has to be taken into account from future gushers. These guys have other bigger targets to go after in this field. BHN-1 is just Act One in what I see as a three act play - hit on first one, hit on second target, then act 3 - Shell writes an extremely large cheque and we ride off into the sunset.