Well there is nearly a 100% likelihood that either a JV, sell/lease of Eagle Shale properties or buyout soon comes. Soros sent a letter to the board earlier in the month regarding missteps of management and 30% discounts on preferred shares being unacceptable and recommending prompt selloff of the company at a per share price much higher than the market price as has already been offered. Also, BP is only one of three companies interested in the Eagle Shale property. Chevron (CVX), Encana Corp (ECA) and Sanchez Oil & Gas Corp (SN) are highly interested in the Eagle Shale properties. So I think either a JV or selloff of the two upper county wells located in Lavaca and Gonzalez will happen. So its either JV or sell down some positions, imo. My bet is a JV. It's difficult to predict the pps after a JV but should be a good hike.
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