Unfortunately, I'm inclined to agree with your price prophesy. Which begs the question of the wisdom of the poison-pill defense adopted by this group.
8 high potential wells to drill during 2006. expected 50% sucesss rate. Initial production from Z and W areas. Beginning of positive cash flow.Cup is half full, not half empty!
There is no scientific proof/hint to say there will be a 50% chance to have a good well. It is not a half cup filled. It is an abstract. Cannot estimate it at all based on FXEN's technology, experience and knowledge.