It's interesting that as BUYs have drifted up from 12 to 14.5, BUYOs have drifted down from 2.0ish to 1.0ish ...
BUYOs are a straight-up bet on Nyuni. As Nyuni has a P50 number of 350 mmbl/860 bcf gas, and BUY is in for 10% of that, it's a bet I'm still happy to have made at 2 cents.
BUY has Nyuni, the second Tanzania well, some interesting acreage off New Zealand, and 25% of a major gas well off Sydney.
Personally, I think if Nyuni fails, BUY will fall back to 10 cents or so. Therefore, a smaller fire and forget bet on the oppies is the way to go.
BUY Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
