enercom presentation, page-5

Alacrity

I noted from reading through the posts yesterday, a lot of comments about the new land deal included words to the effect "thankfully SSN wont be the operator". I dont think there's a single person here who still believes the current business model (SSN as operator and sub-contract the drilling/completion) is the right model after the last 12 months of problems.

Therefore, when I see or hear TB say:

"Looking to work either through the farmout market or with Continental"

Then I think if thats true, particularly with CLR, i think that news would do wonders for the SP. TB should stick to what he and the team are good at - finding good land deals, and then farm them out or JV them with proven operators.

The one major downside of someone else being the operator of course is that things run to their timetable, so will take longer than preferred, but when you have this many operational problems/delays using the current model the alternative cant be worse (imo).

Cheers, Sharks.