Curious reaction to PSA report from you guys. These auctions are...

Curious reaction to PSA report from you guys. These auctions are the only way to grow one's business (acreage) in the GOM. It was after all the way PSA got its hands on West Cameron at this time last year. I don't think PSA has any intentiion of repeating the errors of the past (too many high risk, high cost wells that failed) and one reason it will likely farm out some of its Vermilion interest is precisely to spread the risk. Moreover in the past it would have drilled those Ship Shoal leases itself instead of taking an ORRI so its attitude has markedly changed IMO. But that said I agree it does have a PR problem, doesn't seem to want to explain what it is up to to a wary market.
On ARQ congrats to all those that hold, great result, hope it has some spin off affect on BUY which is looking increasingly cheap. I wonder if ARQ will now go for some more cash, it will need funds to develop Eremia and could take advantage of current support. Will buy in if it does. Cheers. JBC