my thoughts, page-2

I think it is as simple as the fact that with nearly every well the chance of failure is greater than the chance of success, so those that bought some time back are taking profits. Even at a relatively healthy 25% chance of success, we still have a 75% chance of failure. The probable failure provides a good chance of buying back in for the shale opportunity. It is not a relfection of the company, just the nature of drilling for oil.