The GFC crash saw oil prices fall from ~$160 a barrel (June...

The GFC crash saw oil prices fall from ~$160 a barrel (June 2008) to ~$50 a barrel (Jan 2009). By Dec 2009, they were back up to ~$90 a barrel and working their way back up. Oil price crash (severity) was short lived really.

I'd like to think we are fairly insulated from the direct oil market as we are not a producer.

Considering BRK bought a large chunk of these land leases at the bottom of the cycle, if prices did crash, we would most likely be in a similar boat to what we are now value (MC) wise.

This is the beauty of the model in my opinion. Huge potential for upside but ultimately low risk.

Of course, no one knows exactly what the market is going to do or what other factors could affect oil/gas prices at the time but if the past is anything to go by, I'd like to think we are fairly "safe". Especially once we publish some more reserve reports.