RE:Kelt's Oak Dilemma (amateur hour)Having been in oil/gas longer than Wilson etal, i concur with your valid points, Pablo you''re no amatuer either!
My hands on experience with operated and 3rd party deep cut facilities is they often sit back and bleed you dry, then pounce opportunistically/cyclically(CNQ/Shell.IOR/CVE)...as for thousands of acres in a play worth x$per acre.. i simply discount that until dilineation complete,leases/lic's held by prdn/mapping ...all lands/plays are not equal , prioritising is time consuming and moreover too costly (unhedged jr/ midco) and cost risks/leverage.. I'm also a PDP type vs illusory probable type investor
Going private resolves ubiquitous option farming /dilution conflicts and transparecy. while their strategy evolves into a final sale/benefit to themselves vs investors oppurtunity cost options.if they flail