Seems to me that all of this "we are all doomed" talk ignores...

Seems to me that all of this "we are all doomed" talk ignores the fact that TTE can always sell, or get farm ins, to most of the assets, if it needs to.

What would a farm in to DR 11 in the Perth Basin be worth?, for example.
The drilling with AWE does worry me, given AWE are going down to the 3,000 metre level and they have already said the cost is somethng like $7.5 million plus. Forget our share of this off the top of my head (need the 2nd cup of coffee) but I seem to remembeer soething like 18.5 per cent?

If Myannmar Govt grants a lease to TTE, how much could they sell that for, or get a farm in?, given around 60 of the biggest O & G companies in the world (plus some small Aussie and Asia oilers) are bidding.
The online version of the WSJ reports this morning that a South Korean company is front runner to build a 1.1 Billion US dollar international airport in Myannar. So things are moving along there, infrastructure wise.

I do agree on the fact they need to start getting some more production going - and this caprock drill has been a bit slow, to understate things by a country mile. Maybe an announcement this morning? Maybe the cheap quote to drill was cheap for a reason?

Niobrara is one that maybe can wait, as it famously sank the SSN sp in the last year or so. It won't be cheap to drill and I seem to remember something like $360,000 plus was quoted in an announcement a while back? (Or, one month's total oil production earnings from AD at current rates).

However, a lot of the other US drillings are re-entries into proven past oil and/or gas wells. Some are in partnership with other companies - and drilling in the US is way cheaper than in Australia.

Plus, when discussing new or re-entries, everyone seems to overlook the advantages of the latest 3D seismic which gets better with each passing year and which gives a company that uses it, distinct advantages.
The Perry Ranch 3D seismic gets a big mention in the last announcement and seems to suggest there is something down there.

Then there are the Jordan Schultz and Joy Lawler re-entry drillings which, from everything I have read, suggest they are onto a good thing with these.

Anyway, those are my thoughts for a Monday morning.

All of the above is my personal opinion. It is not investment advice, as I am not qualified to give it. DYOR.