http://www.bloomberg.com/news/artic...ing-ceo-found-himself-atop-10-billion-barrels
The sort of model Antares should have been following.
Not the $26M spent on 5.5 vertical wells that turned out to be 4 duffers, 1 good well & the 0.5 at SS. The wells that were showing the directors they were so good the first $300M offer had to be turned down.
Those wells should have cost about $12.5M not over double that figure. Just look at what Pioneer achieved by moving in house away from 3rd party's.
A forensic accountant would have a field day working out how wells that were to cost $2.2M max ended up costing double that amount.
LOTM
