It seems to me that most punters here are expecting a JV earn-in as the first step. That could be good.
BUT, IMO it always is better for a small capper to do some drilling first and at least have some evidence for the story they are selling, hit on a play and keep 50%, is better than letting it all go and mumble down a small% royalty.
What are the views here - what is the best way forward - what will happen next??
I am holding here because I thought XCD has had a bit of good fortune picking up it's land, and it allows me to rekindle a bit of interest in oil (I have had little luck with oil over the years). I don't have high expectations and just feel I am in on The Joke.
