Agree Sparky - will be a 10 bagger if they hit oil.
Apache aren't going to spend a total likely around $60m - $100m to survey, do seismic and drill a hole just because they need a tax writeoff.
Their estimates are for a risk-weighted 38.8 million barrels. That means that if, as you believe, they expect it to be a duster (say about 80% chance), then they think that if it isn't then it holds somewhere in the vicinity of 200 million barrels reserve.
I understood the odds of getting oil were expected to be more like 40-50%. a 40-50% chance of a 10 bagger within a few weeks sounds like a damn good deal if you ask me, just don't put the house on it.
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