IMHO the results don't actually need to be the best around, they...

IMHO the results don't actually need to be the best around, they just need to be solidly commercial. On this plane, long money could consider the valuation of $3,275 per acre as being substantially derisked on the currently expected Defender result. A commercial result on the second niobrara well would IMO lead to a big acreage revaluation.

SOA? As a speculator, I cant wait to see this drilled BUT we have to recognise it as a wildcat with maybe a 50% COS at best. Long money will, I expect, be more interested in proving up the Goshen Niobrara and Roosevelt in the first instance.

cheers