Lot's of "ifs" but nothing really groundbreaking. IF they bring TX back online (allegedly in the works) and IF the production numbers are decent from LaNina/Covenant...there is no reason the LOI for 5% Bakken play and multiple leases don't happen. I keep telling myself that is why our boy Floyd would even entertain the LOI and talk about starting reworks on new leases. He sure as heck can't fund that on dilution. Add that to the speed at which they added the O/S to the website suggests they aren't too worried about scaring folks (i.e. dilution).
If LaNina/Covenant + LOI + TX happens over the course of the next few weeks then that .05 number someone threw out will be history if we can all hold our shares tight. The last run both MM's and traders were masterful I thought. If we hit a home run with the news as noted...I am really curious where this thing will end up. I think we could see 0.12 again and possibly higher...and even there we might get surprised.
Then again maybe it is all just smoke and mirrors but if so I would hate to play poker with old Floyd...
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