Buying a drilled-out IO asset that has been for sale under a series of owners for most of the past 5 years is a really bad idea. There's a reason none of the aggressive junior producers have previously bought this project, mainly its location. Also the fact that it has almost no upside.
Kudos to Ochre Group for finding a buyer with enough hubris to think they can make it work.
Buying a drilled-out IO asset that has been for sale under a...
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