StrategyThe abrupt change in strategy lengthens timelines. Bad. Allows TCF to accumulate $25 mil+/- of cash by year end. Good. Gives company the opportunity to drill for much larger reserve targets on the on the
onshoe farmin acreage and on the SASB acreage away from the platforms. Also good. Probably avoids the necessity for another equity cap raise. Good.
In my view, this strategy change has positive LONG term implications, but short term, takes away any upside from a continuation of the current drilling program. I think Art surmised that the current strategy was incapable of moving the needle on the stock price and wants to add some material upside for his drilling dollars.