Edison initiation of research, page-3

i think their 7.5% is out the window. what do stock analysts know about geological risk? companies rarely drill wells ith less than 10% chance of success. In fact, its been shown by the industry that approximately zero wells with CoS < 10% are ever sucessful.

statistically, to roll up 5 targets will lower the risk. the company is carrying ~30% and its probably based on a primary target (or the top 2), as they know that rolling up multiple targets would put them at an unrealistic risk for a wildcat.

appreciate the info, thanks. good luck everyone