IMO the well data is superb news. We have just doubled our production with one well and chances are we'll be making another 500bb/d in a few weeks ..(although these rates do drop back fairly quickly). The fact they say rates are improving is also very promising.
Unfortunately the market is having trouble digesting the asset write down on the bakken. from my perspective I don't care what impairments they take providing Texas keeps going in the right direction.
One more duck has to line up before i would say for certain this is a screaming buy..We need a similar result from Fiesta as that is where we have the space to build a 10000 bbl/d field
MPO Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held
