S.S - PNOC wont get in cheap if they hit Oil - it then turns into a whole new derisked investment and they will have to pay up - the same for any new shareholders that would prefer to wait to invest in a certainty rather than a maybe. nice pick up on the nic - but patience is part of the strategy - the nic is there for others to uncover it as well. OEL is certainly testing it though and I've not been involved for as long as some others on this forum. But I would love to see longer term holders rewarded. I'm also interested to see just what this would be worth per share if best estimates were achieved via a hit. Guess we will know soon enough either way
Ann: Hawkeye Drilling Update Number 1, page-12
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