OGG your template for company valuation based on your criteria for de-risking is a personal one, but you talk about it like its mandatory and your here to let the whole world know that your methods are correct and everyone else's are wrong
de-risking by getting appropriate knowledge has many paths, but the only path you believe in seems to be getting an experienced operator, there are other ways.
Having partners (low working interest)shares the financial risks and yes the financial risks are big drilling horizontals where the expense is great and the rewards are very little in terms of production, so TXN is risky from that perspective, but the rewards are great too
but you should be careful because some people may interpret your actions here as down ramping so you can get cheap stock or to cross promote the stocks you hold
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