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Yes Anatol, Aurora has assets in Atascosa - that is Excelsior that I was referencing in the MRO thread. Look at the slides and it is apparent. And as posted earlier, EOG has Peeler Ranch acreage - why not look at those - posted them.

Likewise - waiting on NSE to provide the Reserves report. Buying Proved Reserves for $20/BOE is reasonable deal. Since we are paying $34M (assuming success case) I'd start to become happier if I was told there are 1.7MmBOE of 1P.

I'd be happier still if EFS was ditched and focus remained in Australia with addition of Cooper asset.

I'm pretty much done with EFS research - just threw in that MRO piece because of the success of Aurora has (but look closely where it has been from) in EFS.

I will certainly look at the research you discover Anatol, but as earlier said that highlight reel EOG well doesn't do it for me when EOG has 10 wells on Peeler Ranch already.


If you wanted to look at a similar sized company - you could look at Lucas Energy. About $35M in MC. Trades at around $1. Claims its worth close to $5 on a Proved Reserves basis (the NPV is $130M odd).

http://content.stockpr.com/lucasenergy/media/506d8f09a10ae198332e97e8537f5623.pdf

Everyone is getting excited about downspacing though.