liquoirwolf:KAWA was a flop, got it. No JV partner emerged!!They were forced to carry 100% of the load for WEI--thanks to their deadbeat partner oyl.
THEN there was the overspend on WEI. Even a 5 dollar jump in shareprice doesn't get us back to breakeven, as their has been hudge opportunity costs from the half billion dollars plus being deployed elsewhere, i.e more dramatically higher current production/cashflow and/or buying back half the shares outstanding. The only good news is the piddly short term bump we will get when they annouce they found such and such feet of pay from the santonian, and try to hype that up. Have no idea what that's worth, as the upfront cost of development is so high and the time to production is so long AND they have to give most of the NAV away at a steep steep discount IN HOPES of attracting a JV partner to carry most of the load to develope the project. GOOD news is that as long as the santonian zone comes up with a reasonable amount of oil pay, one should be able to unload at a measly dollar or two bump up from here,
But there is no way the results are going to make up for the half billion dollar disaster this has been.