Jim. For me, the primary consideration is the viability of
the play. If only DPTR were involved? I'd be less enthusiastic. But, with Shell still involved - as a key
partner - years after drilling a non commercial well? I'm intrigued. Encana is, of course, another quality company.
That's good sponsorship. And good sponsorship gives the play credibility.
And, what R they risking their money on? Geologists consider the Columbia River Basin to be the largest unexplored NG play remaining in the lower 48. The potential is enormous. 100s of trillions of cubic feet of NG, in a complex lithology of multiple pay zones.
The reason it's not been explored, until now, has been the absence of economically feasible drilling technology to get through the thousands of feet of basalt, overlying the prospective NG zones. This has now changed. So, we're in a new ball game. That's grounds for some enthusiasm.
OTOH? We've all seen a myriad of pump n dump schemes in mining AWA energy over the years. Not surprising then, when the real deal comes along? We're skeptical. I know I always am. However, good viable plays R the ones that deserve promotion, so people have the opportunity to decide if they want to participate.
I like DPTR because it's a more leveraged way to work the Columbia Basin play. If you don't think they have the wherewithal to make a go of it? Then, Encana makes more sense.
I've looked at Delta, think they do, and have positioned accordingly with a moderately overweight position beginning at $17.85, earlier this week. I'd like to see a sharp pullback to add. Just dunno if that's in the cards until higher levels.
From a broader perspective, my personal view of discussion threads, like NRS, is that we're not here to convince one another whether to buy a stock. IMHO, that's not an effective use of the very limited time available. All we can do is express an opinion, offer some evidence, and let the chips fall where they may.
Isopatch |
