I agree that it's been a very slow burn and probably deserved to be sold down but it's now priced for failure. The chairman alone has put in around a half a million over the past year or so and now working for free. The South Sudanese producer paid $185k for the trial so they're pretty serious about solving their wax issues. Just like Santos in the Cooper Basin and the G of M producer, Petronas have likely thrown the kitchen sink at their wax issues and it's now our turn. Remembering of course that Santos gave us their worst three wells three years ago, we are now treating 40 of them. If we get both pipelines, coming off such a low base, HCD would likely ten bag in flash and still have a low market cap.
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