RE:RE:RE:Suppose To Follow OilOnly in the sense that there will be a consolidation in the industry as the long-dated return of capital comes with increased political risk. Execution risk can be mitigated, political risk, however cannot. The illogical antipathy to hydrocarbon resources shown by eastern elites requires the deep pockets of larger entities to counter. Micros aNd what's left of the juniors will be reduced to explorers.
The difference between LXE and GXE is a management team at Leucrotta that uses this model as an exit strategy over and over while GXE does not. Galleon, Crocotta, Leucrotta are all examples. As the risk/reward ratio is no longer based on execution of strategy but rather on the whims of climate dilettantes and political opportunists, it makes sense to consolidate the industry.