Mike, we will certainly look like fools for being patient if they don't ever finish these two Padgetts or the other two wells they started in the meantime. As in EVER. I have flowers on my tomato plants right now...
I suspect both Padgetts will be completed rather sooner than the end of October though. But then again I had figured at least one of them was ready to go prior to the RS. (cough cough).
In the end - whenever or wherever the "end" is - it only matters, did you make a profit, even if you had to wait?
I'm still betting on the profit...on those "dangling carrots" that no one else seems interested in right now...read: undervalued company, seen as "underperforming" even, because they are having trouble completing 2 wells they drilled in what however may prove to be a high producing lease (the Padgett's) - who took a gamble on a third hole over a high potential NG & oil producing dome (the NM 1) - and who went on to drill a new hole in Hood County - again with good potential.
They're doing all the right things, taking shots at formations and leases which their oil sense and their data suggest will pay off, and their credibility is suffering because they are slow to finish their projects and tight-lipped about their progress.
So who's gonna end up on the sunny side of this thing? The bashers and detractors or the patient longs?
The drama unfolds.
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