Proactive Investors Q&A with Eric Streitberg, page-9

I agree. I really don't get why we only get a peek at what they think about each prospect after it's spudded. There doesn't seem to be a good reason for it. I mean it's not like they're hiding negative information, they didn't even tell us about about the 100mmbbl targets until the drillbit was spinning.

I know people are down atm and hurting, but I'm pretty hopeful about next year providing once again, they get ~4 drills in the trend not one or two. They really need to go hard at it to bring forward any success for a whole host of operational reasons. One or two drills a year is a way to slowly get a thousand cuts as you can easily fail one or two years in a row meaning lower sentiment, lower prices to CR from etc. What are these drills costing us? Less than $2M each? I'd rather they empty the whole kitty to find the next success. Imagine if we had drilled more of the trend over the last 24 months and had a hit. Sentiment would be completely different. We'd have more options open to us and be operating from a position of strength. We might not have needed a farm in for Yakka Munga and Raphael etc. Now we get to lose 25% or whatever of the potential value is there if we get drills up and it hits. There will only be more of those kinds of situations if we drag things out.

For me it's just going to be a matter of picking the low over the next few months for April/May (or uncon gas results if that's your bag) and then hoping they drill a ton and just as importantly, test what they've already drilled. Start late April and don't stop.