the niobara acreage is not proven, page-21

Sammy, you ask a valid question and while I don't think anyone here assumes our niobrara acreage is proven, it certainly pays to be reminded in case people lose sight of that fact.

There are many very well researched posters here on SSN and as a result there should also be many very well informed readers also. As far as i recall i dont think i've ever seen anyone suggest our niobrara acreage is proven so it's been kept pretty real. That's not to say there's not been a lot of discussion about the level of de-risking based on the plethora of available and well researched public information, but IMO that's fair enough. If you read back over the last couple of months or even weeks of what's been posted on this forum I think you will find all the info you need to weigh up the risk vs reward now vs waiting for successful niobrara results. As TCG said you can pay 13/13.5 now with some risk in tube equation or you can pay more later when the results are in - the question is how much more will you pay.

Cheers, Sharks