Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I commented recently on Independent Oil and Gas (IOG) and how I considered the Harvey drill was crucial to the company’s future and a farm-out prior to the result was very unlikely. Well I was wrong on the latter point, as last Friday the company announced a farm-out to CalEnergy Resources Ltd, part of the Berkshire Hathaway Empire. The detail however only reinforces my view the Harvey drill is critical to the company, and if anything, is now even more important.
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