RE: A good value herethink I can add something, or answer something anyway. The Sarcee well is NOT included. Until it flows and some metrics are measured it cannot demonstrate any sure value.
The Blueberry was subject to competetive drainage and there was nothing they could do. Every one, including C1 flowed it to the max. That stuff happens in the bizz. They did score another gas well there though.
The only real negative is that these guys have been slow. However that is more a function of the super heated service sector. You just cannot get stuff done for the life of you. All you do is put the screw to them and hound them but the guys are so, SO busy it is futile.
Not to worry, the Sarcee is coming in. If they don't flow it for 9 months...well we wait. That gas is there. It is a big reservoir. Meanwhile this team has some really decent wells and real potential. I look very favorably on this team.
I know for a fact one fairly big investor (a half million bucks worth) exited at $2.80 (from what I can determine that was in the last several months) because things were moving slow, I know from talking to this person that they keep looking at C1 and keep wanting to get back in. I was told when the price stabilized they would be back in. I would not be surpised to see this buyer in the action in the coming months.