how would you price 30m b, page-7

So it was bad management initially when they hedged worrior and they were lucky when they hedged last year? EL,

Lucky that they tested the business? They put suggestions in a hat and pulled that out? Believe me I'm sure they would've preferred oil to stay above 100/barrel rather than rely on hedges but at least they had them unlike some of those companies you mentioned. Weren't they lucky enough to put them in place? Now I'm a fan esp of CVN but why any oil company would not put in some hedges at or above $100 is beyond me.

On that initial hedge, a lot of these types of instruments are insisted upon by the bankers who provide the funds. If not they have to get the money through other means.

I understand that STU is not the most risk adverse company but it has a strategy and as yet has not cost the shareholders through dilution unlike a lot of other companies. That is why I hold. Why are you watching it EL?