Hello George
You know what I think of MPV and I suspect the market share similar misgivings, however, for all intents and purposes, they are now along for the ride on this play.
I was very impressed both with DB's speed of discovery of those three pipes and the intensity that they now appear to be adopting on both development and exploration fronts.
In addition, I can not help but ponder the intriguing percentages, four targets drilled, four economic pipes found, a couple with ABZ grades and one with DMM carrat values.
As your buddy JK pointed out, the current MPV numbers are very attractive from a fundamental perspective, its the intangibles that give me pause.
Still, with so many targets in DB's scope, I can not help but wonder if there isn't still a bump or two to be seen upon any new discovery.
As you suggest, Gerle should benefit from further MPV success and who knows, perhaps even their own. I also expect all peripheral plays to gain from further 99 NR's as between that, WSP and hopefully SUF, the area is taking on the characteristics of broader potential than has currently been proven around Lac de Gras.
Knowledgeable investors will be savvy enough not to be drawn into others this spring, but any which announce a spring 2000 program as a result of further MPV/WSP/SUF success, may get some Christmas stockings filled.
I would like to see Gerle's horse finally come in but that nag has been hamstrung for so long on a wet track, I can't help but adopt a wait and see approach there. Finishing in the money doesn't even count in this game.
Regards |
