Yes I saw that posted above - funny that he quoted me! I do like his blog posts though, I think he has excellent perception of HC.
ravi,
I agree about RC's communication of Surprise, but I suppose perhaps they are still weighing up their options so don't want to announce anything definitive. I do think that there needs to be better communication with shareholders about the reasons for not drilling it, though. It's logical that the underperformance of Surprise is a major reason behind the delay but it's only an inference on my part.
I don't think I would agree that Surprise results are not surprising because the well was unfinished. The well flowed fine during the EPT so the fact it was only a short lateral obviously was not an issue then. In fact it flowed so well that I recall criticism being directed at CTP from some quarters for drilling the lateral at all - some thought a vertical would have sufficed. That is obviously not the case now, and while a full length lateral certainly wouldn't have hurt, it might not have helped much either.
CTP Price at posting:
27.0¢ Sentiment: None Disclosure: Held
