Low, Tom addressed the why drill the Palo Duro at the meeting yesterday. They are "hoping" this 1st Q of '07 as far as time frame for a first drill. But, IMO this is hope.
Hopefully the why and background info will be in the webcast.
The short of it is that they found strong PIP readings and found a fault line and river to the east of the strong readings. Further east, at the same depth as PIP indicates, they are drilling for oil. Seismic would not discover oil in the existing formation by the way normal seismic is performed but they found it while in the area.
Tom explained all this yesterday and thru the use of hand drawn diagrams it was simple to understand. I however am probably confuusing it. You can call him for an understandable explaination.
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