Well, I just picked up another 15k just now. Short of a double-dip recession (which I concur is still quite possible), I think we're probably near a realistic bottom here. Short of the possibility of recession, I can't see oil ever going below $60 again. Hopefully it trades in a $70-80 range for a year or two. With Algar production fairly risk-free, and not much more than six months out, I think we can start seeing major appreciation within 9-12 months.

I looked at PDP again today. I think it's got the potential for quite a pop if the well casing problem is solved in the next eight weeks. But there is also downside risk with that stock, whereas with Connacher, I see very limited risks from this level.