Guess what. It was probably a lot cheaper than buying a company that’s already producing 5000 barrels a day. Accompany an already up and running producing 5000 barrels a day probably wouldn’t even be for sale. Everything that you’ve highlighted just get the price of purchase whacked down to the bare bone.
Plus, they’re doing it at $58 oil and not $78 oil.
It’s like buying a rusty old car with the money to do it up. Take a heap that doesn’t run and turn it into something desirable.
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