Interesting how superficial your analysis appears to be. I also...

Interesting how superficial your analysis appears to be. I also note my post read 'should' be. That is from an FA perspective, hence the commentary on 88E's progress v road ahead and commercial realities they face = $US50+ break-even which OPEC won't want for some time. Compare BYE and OEL's market caps prior to rig mobilisation announcement and today and that might disarm the point you're trying to make. At any rate, i see cash balance and diversification of asset types (an asset commercial at current oil prices = GoM and another that has likely a $52 break even and may not be commercial for a long time = HZN) as being the impetus for the daily reckoning recomending OEL, which was probably the catalyst for the run. If you, like I do, see GoM as more valuable than OEL's shale portfolio you could argue that Byron will trade at a premium, 'if' SM6 drilling is successful (which imo is fairly likely).