RE:RE:RE:Shake out …lol Yes, wcp, I don't for a nanosecond believe that there's nothing there. Their own seismic shows a large area of reservoir rock and somehow they managed to get formation fluid samples. My buddy says that they can be acquired in many ways which don't require actually testing the well. So initial appraisal has been done which is why they say in their press release that "further appraisal" is required in order to determine the commercial potential of the Maas and Camp. By that I think they mean that they need to drill and flow test to surface a couple of wells.
OK, so NDA's are in effect. Negotiations are ongoing. As you point out, they might also involve XOM in some sort of unitization arrangement. Yet I have to admit that the way they blew off investor Joe was very curt. Some general explanation of the current state of affairs would have been more reasurring. They didn't even attempt to calm investors' anxiety.
I can tell you that many people are watching this play. Most are on the sidelines waiting to buy in, including myself. If that happens and bid interest shoots up then I doubt that the "shake, shake, shake" and wash trades that Frank talks about can even happen.