thats the key,we dont go and blow a heap of capital on wild cat...

thats the key,
we dont go and blow a heap of capital on wild cat drills.

and where we do drill has high COS on horizontal drill technique into areas selected by BM, great strike rate.

And in that drill, the purpose is not for us to drill out the block as a cash cow, but to book the reserves of the block, increase the acreage price, and sell the acreage.

In the case where we do have an interest in a well, the cash cow is good to have, and importantly, the drill out of the block, if we were to spread out wings, is then high chance of success.

Where we have large acreage, as in SWISH, we sell interest in the first well, so we have a minority stake, so the well cost is shifted largely to others. But the reserves of the rest of the block are retained by BRK. That acreage, we sell at elevate prices.

The proof was in STACK, now we are moving to operated areas in SWISH, the drivers seat so to speak, and the large acreage x say 30,000 acre = Big cash Cha Ching.