QNot even a rustle of a T/O at $0.47 most probably tells us a...

Q

Not even a rustle of a T/O at $0.47 most probably tells us a lot more than we wish to know. The market may be telling us that it believes it is worth less than that. It is now 9 or 10 straight dry holes if you would consider the last two Moonshine wells dry holes by another name.

I suspect that with GOM production decline curves being what they are supposed to be this "train" is close to a serious wreck with the never ending string of dry holes. PSA's producing well bore base does not have the breadth to handle these long series of failures.

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