Hard to justify?

Is it hard to justify the continuous drilling by Conaco with the production results recorded to COGCC? Conaco has made a huge investment in the Arapahoe area with very little in return and now it looks like they are willing to spend more renewing leases.(so I read). I see no advantage of smoke screens or oil field tricks at this point.

Lets review the last couple years:

Anadarko drills the first well which was a disappointment producing 5,663 bbl in Dec. 2011 to a decline of 503 bbl in Sept. 2013.

Conoco's Grimm decline from 3,282 bbl to 1,011 bbl in 7 months.

Conoco's Tebo 3 decline from 3,191 bbl to to 1,434 bbl in 3 months.

Conoco's Murphy 1,472 bbl in first 25 days

Conoco's Krout 3,652 bbl in first 18 days

Now we have THE GIANT Tebo 33 10,305 bbl in the first 25 days. I hope those numbers were not a misprint.

We have several other wells which should be reporting production in the next few months.

It appears Conoco is committed to their investment, at least for now.