Ok, so you talked to him about the previous failed oil adventure they had before they restructured and moved to Alaska.
I don't think well see speculative days like those again. Too many people have been burnt on rumours, so this time around we may see the price double as the opening of ice2 approaches but the real price increase will only come if the well flows. Failing that the price will drop and we'll be left with waiting for "farm ins" and the beginning of the conventional phase.
My personal belief is we will do alright out of the conventional. A billion barrels of oil is not to be scoffed at especially with the price of oil increasing. My cake is upside down compared to Daves where i believe the unconventional is the icing on the cake and the conventional is the mud cake.
Ultimate Conclusion?, page-102
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