If we calculate the minimum value for 200 million barrel we get $16 billion oil value, and then divide this to four (25% ZAZA part) we obtain $4 billion. It represent share value of $40 in the worst case (in the best case five times high if there are 1 billion barrel). From my point of view it's time to buy.
Nothing wrong....just weak hands that trade by tec. charts, the professionals traders "shake the weak hands out" they want to buy cheap, after the bell on Friday, the price gain to $1.20 and the volume was around 70,000 shares after the bell, more then this short is now around 50,000 share the regular quantity of short is 300-400K shares. I expect to see a nice gain during the next few weeks regarding THE drilling by EOG.
I must say that I bought on Friday at $1.16 and will buy more at $1.20 - $1.25. My target price is minimum 25% above.