RE:Any thoughts on (seemingly disappointing) drill results?Frac fluid in adjoining wells is normal with this design I would not read too much into it , especially with informed insiders continuing to buy , the pdp and eur revisions on reserve report should be quite good given welll performance , I suspect a private equity or amalgamation with larger player in the works.
the valuation in private market signifigantly higher then public market (hence insider buying) at wti $70 as an informed buyer i would be willing to pay PDP plus 30 percent of PUD value as a starting point ...the magic question is the T zone value in year end reports ....i suspect a welcome large increase given well performance .
it is a waiting game but i beleive the upside to be at least 50 percent perhaps more ..good luck to all it is a volatile strip market, however most catalysts point north. as alaways my opinion is not investment advice do your own DD and consult with informed oil analysts