Schaefer seems knowledgeable. He was the first writer that laid out the Cardium oil play in Canada AND after analyzing the early well results, opined that late buyers were overpaying for the land and that valuations for Cardium players may have overshot the target.
As a result, he recommended taking profits on big Cardium winners.
I think he is a credible source of information. His identification of ATPG as a viable takeover candidate makes some sense to me. I hope ATPG can hold off the dogs until they get Telemark up to a reasonable facsimile of full production so the market can see what 48,000boepd translates to in cashflow and they can get decent value if a takeover materializes. Nothing worse than picking a winner and then having them sell out for a lot less than full value.
Bobwins
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