We're oil real estate agents selling land and so need high oil to get a decent farm out price for conventional prospects.
Those funds can then be ploughed into the unconventional prospects, which is the real jewel in the crown.
It looks like we've hit the market at the right time in a low oil window, which has kept our costs ridiculously low when you compare us to our neighbour GB that has spent 200 million to date.
We're excited as our 50% gamble on a 100 bagger is actually looking a little conservative, as the likelihood of high oil for 2017 is looking better each day.
Of course if it doesn't flow we're screwed, but the management have been pretty clear on managing our expectations.
Looking good atm.
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