john paul jones... jack rabbit junior, page-40

Shrewd,

Fair enough... I can understand your point of view on this one.

I agree that a $500m pre-drilling is not rational but the market is not rational at the best of times and this is why I think it is possible.

Putting it another way the cap has been $200m in recent times and given the delays etc and lack of a timetable it could be argued that this is an irrational price especially when compared to many others out there.

This stock has a strange dynamic though and will often not behave rationally despite the fact that many would like her too...