"...It will likely still turn out that the CR was poorly timed,...

"...It will likely still turn out that the CR was poorly timed, but who knows..."

Maybe they were told by Hilcorp to have cash in place ready to be called to meet commitments. Maybe they were planning to book rigs for a number of months - perhaps get a cheaper rate. We could find that ADI did not have a lot of discretion if it wanted to maintain its WI. As I have said, EME made a second CR in the same month and S/L received special mention in the explanation of the 2nd raising. I doubt that it was just coincidence.

Bishopawn is posting again on ADVFN re EME and has made a series of bullish comments. For instance, because of the flow rates, Hilcorp will be paid off much earlier (must be true); the JVPs will start to receive quite substantial cash inflows (must be true); Hilcorp has a plan for Kowalik (in March, AUT was showing Kowalik as a completed well to be counted). There's nothing magic in any of this but no one seems focused on it.

What about reserves estimates. Possibly time for us to focus on those substantial flows. If Morgan continues to flow at its initial rate, the Petrohawk 5.5 BCFGe recoverable estimate per well will be reached by November on that well. So, we should watch the flows because the reserves estimates seem to be based on that figure or similar. Think what it could do to the 2c reserves. Sure, they can be expected to decline but let's see what it will flow and remember that production tubing has not been installed.