04-15-2015, 06:10 PM
they always do, after other producers were unable to handle the high water content. So they specifically designed and are building the Octabuoy to handle such. Cheviot has 39.0 mmboe proven and 17.0 mmboe probably (65% oil) and is expected to be online 2014. Due to convertible dilution above 27.5, which was raised by management's call option purchase, I say sell the Jan 2013 calls for around 0.90, nice yield for the current pricing. Also, insiders have been buying.