my comments on the announcement: well nothing really that we didn't already know.
They ran image logs (costly log) over the sands so they knew exactly where to frac, they are predicting a high % of success (I agree). The little delay is nothing unusual in the oil and gas game.
My thoughts that there is only 10% risk with this one.
I have have stopped backing oil & gas companies where the risk is 50% or higher of finding oil, as I really don't think there is value. I would rather put my money into a CVN or similar who already has BOPD and is cheap and undervalued (don't hold CVN BTW). TSV fits the bill, little risk and plenty of upside and is prime takeover target.
TSV Price at posting:
2.4¢ Sentiment: LT Buy Disclosure: Held
