Sorry guys, but I don't think Tezza is looking to buy back land from CHK and risk the cash that they wisely raised by selling it in the first place.
Hi GiddyUp, look you're probably right there, but imo there's a possibility he does want it back if he can get it cheap enough. I don't think he sold it because he didn't necessarily want it, he needed the cash for development, and CHK wouldn't have bought it if they thought it was worthless.
I keep thinking about CHK's gung ho drilling attempts/missing the payzone before pulling out, and if TB suspects the oil is likely down there from the 3D...and TB doesn't do anything gung ho, he's the careful, conservative type - anyway just a possibility amongst many, all speculation on a slow day :)
My uneducated guess on Defender is a lower IP than the Bakken wells but also a lower/slower decline rate, but I suppose we'll have to wait and see. Sticking to my guess of 1,000 BOPD for the IP. Am ever the optimist though :)
OILMAN if you're around I would love to hear your thoughts on Defender.
SSN Price at posting:
8.3¢ Sentiment: Buy Disclosure: Held
