rayburn update, page-12

you are right vaga, there is no hint from STX to date to contract a second rig ...

... but for the very first time we will have two different drilling permits approved at the same time - that's really unusual - afore the planning of the new drilling location where obviously depending on the results of the earlier wells

... but another argument comes from the Rayburn business model itself - with a pay of period of 2-3 month per well it make sense to drill more wells in shorter periods of time (if you are able to fund it) to enhance the revenues and take advantage from high gas prices

... and they want to drill 3-4 exploration wells in the next 6-9 months - they are not able to move the rig away from the Rayburn discovery, if they have the chance to increase revenue stream with more development wells there -imho you can't explain shareholders to increase the risk (due exploration) of a business while you stop increasing revenue from a producing discovery...

... it seems logical to contract a second rig (if one is available and you can fund it), if you are successful as they are ...