Any thoughts on the latest agreement with the government announced this evening? My take is that the parties are moving towards a resolution favorable to ESV, but it will take another month to get there. If the parties weren't moving in a positive direction, ESV would simply go back to the court IMO. It would seem to me that the government wants their pound of flesh, but that ESV is going to get what they want and it will be a catalyst for the stock.
How many times have we had our hopes raised? Ruling after ruling has gone in our favor, and the government just revises it's moratorium, or more recently, switches to slow-walking permitting, which amounts to a de-facto moratorium. They are masters of delay and deflection.
I'm long the stock, short quite a few puts, but not looking to this litigation as being much of a catalyst.