Because of the enormous difference in scale, you can't compare BP/Total (major oils) wildcatting the oceans to TGA joining a peer (teeny weeny minors) to wildcat on shore, given the modest capital they could muster. TGA is limited to finding oil near where it already exists. Its discoveries are small fields. The Saudis know their reserves will run dry since fossil fuels are finite. We will likely use up the oil that took over 500MM years to accumulate in the next 200 years. We need oil in the 60s to get TGA back to $2/sh.
If oil prices stay in the 40's TGA is dead meat. Of course, I think it will continue to rise to the 50's as the economy recovers following the November elections. JMO.