R15, big picture i think there is probably bigger upside here particularly if price not supported in the short term. There is a lot happening in GOM and if the McMoran deep well proves commercial I think it will bring flow on interest to the companies and increase activity in the area. Most are trading at discount to cash/asset value which would give a 2-4 x mid term.
Just opinion only
Cheers
qtrly, page-49
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