"move forward at a reasonable rate rather than the monotonous sliding of the past two weeks..."
Geeez Bert I think this companies spoilt You !!!
Ive been in companies that have taken months to make a decent annmnt. These guys produce one monthly and they are generally pretty significant.
This relates directly to the rather good asset they potentially have as well as the pace of development they are setting themselves and imo this relates to the opportunity that is now presented to them by the unique set of circumstances they find themselves in with a stressed unconventional oil sector.
BUT interestingly enough we have insto's and funds that are keen to back this play. Perhaps even they are starting to see the unique tree from the forest with Icewine even though it appears it may have taken a little prompting from a DW junket accompanied with the unconventional Guru himself !!!
I'm wondering if after Eagle Ford PB realized that its dangerous to make the ASSUMPTION that all shales are created equal and that the assumption being made that the HRZ strata was likely to be smectitic/plastic and/or possibly too brittle to support an unconventional shale play due to the volcanic material combining with the sedimentary, could well be wrong. And that the contributing processes had in fact created a veritable organic soup kitchen which has in fact contributed significant amounts of oil to the regional plays that successfully produce significant quantities of oil for Alaska.
In fact THIS should have been a major tell tale sign to the Geoboffins that the HRZ was indeed a potentially viable source rock as the hydrocarbons must have had a way of migrating out of the source rocks and into the regional traps. No doubt a huge hint to PB that the HRZ should be a potential unconventional play albeit unique and its this uniqueness that seems to have resulted in this play exceeding even his expectations from what he had modelled V's what Ice 1 eventually came up with.
Anyway, I'm rambling again.
The point being Bert, these guys have got themselves something rather special imo and if one has to occasionally be a little patient and wait more than a month for an annmnt then it wont kill us too much !!!
The pace that they, and the Alaskans would like to see this developed if it proves up commercial, will be cracking imo espc post Ice 2H. Much here will depend on any deal they do in the interim. I wouldn't be looking to see such a deal done until post the seismic analysis tho. However just how long the Ice1/2H localized sweetspot takes to define or DERISK as they interestingly put it depends on just how long it takes the server to analyse and process the data into a meaningful 3D structure that they can interpret into just what they have at Icewine.
d.
88E Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held
(20min delay)