three, page-32

I'm in the market at 1.2-1.3. I suppose there could be some bad surprises.. long litigation over ownership.. Buru not getting the testing up on schedule, heavy tax loss selling etc etc but I'm not sure I see it under 1c over the next couple of months.

Contrary to what you might read in this thread, OBL is nowhere near any kind of production. Anyone who says anything is going to be produced from the Laurel or Backreef area unconventionals in the next couple of years doesn't have the first clue about what they are investing in. Honestly I shake my head.

Buru are testing vertical wells this year and will test horizontal wells next year and will then need to construct a pipeline to get any resource to market. They have to have the pipeline plan and gas resource sorted by mid 2016 and it will be 2017-2018 before you'd see any production at the earliest. That's the company with the major partners doing all the drilling and with all the state agreements etc moving as fast as they can, not the company that can't even finance a single drill or get a farm in drill as things stand.

OBL has good leverage to the testing this year though. Why isn't that enough at these prices? Why gild the lily?