Balance, great post as usual. Although I fully believe that scenario is very likely and I think the majority here would also feel that way, what does the market think? Your scenario values EHRE at $6 while the share price is in the low twenties. It would appear from that there is less than a 4% chance of getting that price. The market is very skeptical about this company, there are too many black clouds over the company. But as I always remind myself, if the oil is there, which I am a believer, than the rewards will come. I just hope this scenario develops in the near future and in many many fortnights.
The $64,000 question is: Will there be a Rig of Oportunity or do we have to wait for the AA begin drilling On Oct 1, 2009?