I'll add, the G&A as you can see is only because they are running at 3 wells per annum.
If they can get the 6 wells up in 2017, then obviously this halves G&A per well.
But, the big thing with these wells is the capex race, sustaining capex (existing) + growth capex (new) to actually get ahead and produce enough to re-invest.
Really is a tough game in most locations bar a few under $60.
Like a mouse in a well.
It is a shame they didn't act like a "lean" operation before oil fell and the were "forced to".
It's no great achievement for me now to claim how lean they are. They were too busy thinking $100 would last forever it seems. Not a single hedge either on EFS.
AKK Price at posting:
0.7¢ Sentiment: Sell Disclosure: Not Held
