old hc back, page-40

Gassed - it's a monthly drilling report not quarterly that BPT put out. Expect more detail in the quarterly

C'mon. I agree that development well costs will come down , however it's the science wells which ICN has to fund to get to a development decision. Funds will have to be raised in the next 12 months . We probably are similar in our views , I think the only difference is I have an increasing focus on capital preservation , more than potential upside because when it goes wrong you need to work so much harder to get it back
An example to highlight what I mean
You start with 300k and you lose 50% . You need to make 100% with your reduced capital to break even. So for me I weight downside about 60% and
Upside about 40%