The sell off is not for the Sycamore, but Woodford IMO, and use the cash from the Woodford to fund the drilling of the Sycamore as one option, and IMO the best option. The sell off would accelerate the return which will give them the capital to significantly increase the prime acreage acquisition, and accelerate the drilling program.
The big step up in value is in how much acreage they acquire and prove the PUD reserves by the initial well rather than producing the current asset base IMO.
Remains to be seen what they plan to do.
Cheers
Dan
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