what started it all off?, page-8

It was all down to the sale of the land, that $70m put the company from spec play and raising capital to a company maker. Due to:

The cash giving them an opportunity to develop the remaining Niobrara land holding (plus potential 3.8% ORRI from sale).
They did not need to reinvest the cash into new land purchase as they still had the remain Niobrara to develop therefore the majority can be put to development costs (subject to payout loan, tax) with option of buying additional acerage if the right opportunity came up rather than having to buy acerage to produce again.

Without it you would not have had a "10" bagger for some as the production cashflow (given the loan as well) would not have been enough to allow for the payment of future development given high admin costs, decling gas prices and delay's in drilling. That was the time to buy and hold and be paitent.

Since then production wise not much (Bakken - 1 well and 2 to follow this month and first Niobrara JV well early next quarter)as the cash has allowed them to put the plan for the Niobrara into place 3D etc and take the their time to try to get it right.

Now it is all about proving the Niobrara (the remaining Bakken wells, diamonback etc are nice plays and can add to cashflow but will not drive the SP further from here IMO). So it comes down to CHK and SSN proving the land has the oil quantities or not - that will determine ultimately where the SP ends up. The rest sale of gas assets, Bakken etc. all add to the story and potential cash position but all the targets mentioned all rely on a successful Niobrara. Their current presentations clearly show this and the Bakken at 1,200 net arces is really insignificant at this share price IMO.

Yes I have been allowed back, bad luck for some, still hold a large parcel likely to be a 10 bagger tomorrow and added to my options for a short term play at 11.5c which I will sell this week and will still keep my core holding until it all unfolds. But nothing is for certain.