Couldn't it be cheaper?
Really with Kelt production coming together in third and fourth quarter could not be a better time to buy.
Even if Kelt ends the year with 100 million in debt, and 50,000 boe/day, those are good solid numbers and 100 million in debt is really not significant.
The word on the street and it was reiterated with Eric Nuttal on market call, the world is using 103 million boe/day of oil, and inventories have never been lower.
Kelt is under valued and another buying opportunity.
IMHO