Appreciatte what your saying...and trading the stock is not in issue.
If you look at the course of sales you will see a distinct pattern of CXXT trades dragging down SP a pip at a time. They have to do that...i.e. 1 pip at a time because the CXXT is set at the middle point of the lines and is rounded down to the lower line...if they rounded up it wouldn't be a problem because then the SP is reflective of what punters can actually buy the share for (actually that may well be the legislative solution I alluded to above).
Or perhaps you are saying that you prefer the volatility for trading purposes? If so...I can see that...falls in line with others trade strategies...no probs there.
Wrt the big concern...flow failure Ice2 (and briefly...I don't anticipate it being a problem as the methodology being employed in our shale play is not new... but reflective of the entire US/Canadian unconventional drilling campaign which in it's totality has shifted the global market as evidenced by this entire international Oil rout...in other words...eveyone else is doing it...why would we be any different? Sure we're first kids on the block so to speak...but look at what we've uncovered. Management has to be conservative regarding risk disclosure. So first point...look at features...porosity and the like...better than Eagle Ford.... right? Look atbguys we have working out how to get the flow right...can we get any better?
Second...conventional...a lot of conventional...a no doubt economical play in itself...last ann...empirical cross referencing I presume to determine are these conventional catchments or merely water...I mean that's the Kikker theory right...we're drilling a water bore right? LOL
I am sensing that since Ice1 and indeed earlirr management know a lot more than they're letting on but thats my guess. So for me the safety net is in the hybrid play.
Now you raise the issue of a CR...that would be inevitable in a pure unconventional play if flow failed. However here we have backup...yes albeit potential....conventional resources...i.e. suck it up like straw conventiona!
The plan mentioned is to farm out a conventional resource to avoid need of CR if these conventional plays all fall together...so safety net is there to protect SP...in case of flow issues.
Now I won't take it beyond this but if we get news I have anticipated for some time now...it will only reinforce that we are sitting on something quite wonderous in the Oil game.
(20min delay)