Ann: Investor Presentation , page-40

I think a lot of the difference between Senex and Drillsearch really comes down how the companies promote themselves.

Senex is mentioned more often in newspaper articles, on television etc. They also seem to be more confident in their approach in terms of holding operator status on most of their wells. They consistently tout this as one of their strengths.

Drillsearch's strategy is clear to me now but for a while when I looked at their presentations it didn't hit you in the face like SXY. Drillsearch seem to be more willing to be the minor partner in any JVs. Naturally this take some of the spotlight off the company.

One of the great ways you can see the difference in the attention the companies get is by looking at the hotcopper views of posts etc. Senex gets all the attention. Note, attention on hot copper is normally a bad thing in my view.

That's a bit of waffle but just how I see it. More to the point people have to take into account the EV of the companies as Senex has $120 M in cash and no debt and Drillsearch has $120 M in net debt. EV is a better measure than market cap in this case.