RE:Value csculations? Oil Run got the geology and basin fundamentals 100% correct. The JV team hit significant volumes of oil in both Wei and Kawa.
Unfortunatey, no one could have imagined a management team as inept and incompetent as the ones have at the moment. Never once did De Alba set up either Frontera or CGX for long term success in the basin. Oil Run couldn't have predicted that. Usually some form of competency occurs... unfortunately high priced help in the form of losers like Durkee and Stockinger did nothing either.
With 99% of traditionally run oil companies, management is able to monetize and grow their company when hitting large amounts of oil. This management team has done the exact opposite. Almost like running a casino into bankruptcy. Competent people do not do this... unfortunately we have the worst management team in the business today working on our behalf.
Im sure HL will deliver for us... they have a good track record and smart people working for them. It just won't be as profitable as it should have been.