To me this quote says it all "It's just that we couldn't get a...

To me this quote says it all

"It's just that we couldn't get a meeting of minds on value and in today's climate that means funding is underwritten by reserves," he said.

Funding underwritten by reserves. i.e couldn't get the $$ with current reserve estimates. Am in as of today @ 1.18, look forward to a reserve upgrade and SP re-rating. Reserve anaylsis may take several weeks with the new unexpected sand flowing oil and low gas to oil ratios. I see this as a 1-2 month play. IMO There should be a reasonable period of time to accumulate under $1.25.