New SA article by resourcearb

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All in one article:

1. The size and quality, hence economics of E/A
2. The surplus capital in the industry, relative to the deficit of new cheap exploration opportunities
3. The logic of FCF driving further expansion and exploration on IOC's acreage where some 10 possible reefs and 40+ prospects have been identified, opening up the possibilities of a virtuous cycle

In seven years of following this story, I've never seen it better explained. And what's more, while the shorts compare it with Bre-X and try to beat milage out of dead horses like Calvin College or other nonsense ("imploding" wells, anyone?), I've never seen any even half credible data, facts, theories, arguments, whatever, to make the above even remotely improbable.

Yes, there are risks, and yes, the exact economics are not known, but the range of outcomes for the latter are almost certainly somewhere within the good to excellent continuüm, as Resourcearb argues. One good well within Triceratops would solidify much of it.