Yepp given the drilling of 30 wells in September last year, I had expected more wells and upside this year (SEA is my other closely held gem - they've drilled aggressively, and are rollicking).
One way of looking at it (the way most seem to look at it on here) is that production upside is coming, albeit 12 months later.
I see it as 12 months wasted on my investment (as this was not the outlook that I bought into), but on the back of SXYs 2P reserves I can't find anything better (and I came very close to swapping to COE, but our reserves are simply superior, based on EV/2P).
I still feel strongly that management should have to answer why nothing significant has been drilled this year.
SXY Price at posting:
49.0¢ Sentiment: Hold Disclosure: Held
