It'll be interesting to see what the Santa Cruz IOC turns up in...

It'll be interesting to see what the Santa Cruz IOC turns up in terms of income and inturn further reduction of cash burn. Unfortunately cash burn is just the nature of the beast at this stage but get the feeling management/bod are realigning our position on this and we are in a far better position in comparison to our peers imo. Spitfire makes a good point, i might add, that there is scope for significantly higher valuations than the extremely conservative approach i took on a success case based valuation. The intent of this thread was to create some balanced views/debate, positives and negatives, on the value of the recent Block 9 farmout in isolation and so far so good. Enjoy reading your contributions, cheers. I will add, that imo SF has always managed to add valuable and level headed discussion throughout even with such a large position on the line.