04-26-2013, 03:12 AM
'jft310' pid='21404' datel Wrote:Maybe they have a partner and they are deciding on monetization methods for 15. Makes sense with all these BOD meetings. Whichever monetization they chose still requires drilling more wells at E/A
Not sure, but I think you're wrong JFT on Elk drilling pre-deal. If necessary, why have they delayed spudding? Also. there are several serious clues that 237 (Triceratops) is being sold (probably what Phil hated doing). PRE said so, the JVOA was approved, and the Thais were promised access to gas exploration opportunities. My read is O'Neill has decided to use 237 gas and push the drilling.
By the way, the immediate pricing of 237, which was assigned no value by the Raymond James model, will power the share price at announcement.