one of the unique Oil stories on the market.And poorly...

one of the unique Oil stories on the market.
And poorly understood.
Oiler ? how many BOPD ? thats the retail mindset.

But value growth can occur from drilling a well, and the PUD reserves becoming more valuable.
Then Acreage sale, by the uplift of your improvements. You dont need to drill out the block, to get multiples on your investment.

eg. You buy an empty paddock of land adjacent to a housing development. What happens to your acreage value when the first house is built on the adjacent land paid for by others ?

For the longest time, BRK struggled, because it was trying too hard to get others to pay for our first well. Enough water under the bridge, we raised the money and got the show on the road.

What the market has to learn, is that the re-investment into more seed acreas, to repeat the growth on the next order of scale.
If we have added 200 m or so in land PUD etc, what happens when its sold, and we buy a magnitude greater in seed acres to repeat ? 200m becomes 2b. etc.

This is a realestate game, with the appreciation mechanism of a proving well, and rising PUD come asset sale .