I guess the IC, as usual, is focussed on the 'glitzy' aspects of high risk drilling, without taking account of the steady building of a production stream from North Sea etc.
AS I understand it DNX are on track to double current production rates ( before the new stream from ENER), which is NOT priced in at current sp levels - hence the view that an SP of around £15 will be justified during 2007?
Then there are the Faeroes interests...
As we approach year end I would welcome views on prospects for the SP in 2007, with oil staying FIRMLY above $60!