RE:Barnett_Vet..........Mitchell RanchThis price action lately has really been really ugly, but with relatively low volume. Discouraging either way. I believe Devon said last summer that they were going to take a step back from the Cline while conducting and processing a seismic shoot. By putting the dots together I am guessing that LVL participated in that shoot. also. DVN must be wrapping up processing from the shoot and beginning to drill again in Mitchell, considering the recent permits. I think the Clearfork permit is geologically equivalent to the Sprayberry in the Midland Basin. RSP had a good horizntal Sprayberry test recently.
Athlon spudded their first horizontal in Howard County a few weeks ago, but they didn't drill the permit that directly offsets LVL. Hopefully they will move the rig down south next and spud the permit next to LVL's Tubb prospect.
The Antares Energy deal privides a favorable comparable for LVL. I am hoping they will annouce the closing of that transaction tomorrow. They halted trading of Antares today for a forthcoming announcement.
GLTA