Now I think the day's first trade, that 25% lurch back down to tuppence! is closer to fair value.
Where else is more upside than they can pay themselves going to come from? The guys in San Antone can buy back the whole Spyglass thing for a mere two mil, which will go to "bonuses". That leaves the Carrizo wells, where it's nice that production is stable after so long, but the free cash flow from that doesn't cover salary expense for the Super Six remaining in Denvèr.
Even if Spyglass is retained and restored to full peak production, the cash flow will merely replace the inevitable decline from the DJ wells.
I can't quite swing the cash to make an offer to Samyak for his stake, but that stake is likely the only way to unhorse Tristan. If Samyak won't, maybe the also-self-dealing chief Samyak ousted will make an offer with his fresh new press-release business.
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