Thanks Hardoak, you are right, South Marsh Island is obviously...

Thanks Hardoak,
you are right, South Marsh Island is obviously "the area" in shallow water exploration in the Gulf of Mexico.
I just googled "companies exploring in shallow waters in Gulf of Mexico" Apache has 9 rigs drilling, yeah that's 9 rigs, now I'm not a geologist but some of those rigs appear to be close to South Marsh island leases.
A group called McMoRan are very positive about a couple of their discoveries and will flow test and have first oil production in early 2014. It's a little confusing but McMoRan appear to be claiming two or three recent discoveries one of them 192 feet deep of potential hydrocarbons approx 2.7 miles long, Apache claim another in only 300 feet of oil which they will put into production in 2014.
McMoRan in particular appear to be quite close, even adjoining BYE leases.
I urge posters please google as above plus S Marsh Island Images to make up their own minds but to my untutored view this area does appear to merit the recent stock price rise.