good post from q44 on advfn, page-9

guys

I am a holder of ADI and by god i hope they get something decent out of the chalks. But i will not talk it up as if you ask me, the Chalks are a high risk play purely because of the costs involved in getting decent development.

The nature of the chalks (biologically) is such that it doesn't matter how good the perceived porosity is, it all about the perm in these reservoirs and the fractures.

A major risk is decent perm, they can strike some real saturated reservoir, but to make it flow economically and commercially will require BIG dollars. I knew this getting into ADI. The development wells are expensive for onshore, the fraccing and the many many multiple wells required.

This is what CP are obviously doing and know full well that this is what's required, but it sure doesn't mean an ADI share price of the exuberant valuations i've seen. It comes down to the flow.