guys - Freeport didn't farm into this well. Freeport most likely...

guys - Freeport didn't farm into this well. Freeport most likely don't want to drill this well and don't believe the story.

the whole deal was only a last gasp poison pill attempt by Plains directors to ward off a takeover, which failed. this drilling to Freeport will literally be a negative line item as part of their takeover for the GoM and other assets. A case of "fill the committment, get it over with and get the hell out of there".

pvd got lucky in that they got between some guys in a takeover deal. being the 3rd party in a poison pill tactic is fantastic. but the markets have cratered around us and its clear we are swimming naked; a dead duck on all fronts. that pathetic capital raise attempt showed it to everyone.

morocco will fail.
no-one will farm in to **on,
and what the hell is a junior explorer doing farming IN, taking operatorship and spending money on large 3D seismic!?!?

this really is a bad story indeed.