looking good, page-11

re: some questions Found some reserve estimates on the website, didn't think to look there originally:
East Esponda 7.3 Cubic feet
West Esponda: Just coal thickness

The resource estimate was based upon volumetric calculations derived from the twenty well program conducted by Western Gas and Kennedy Oil and was calculated using 80 acre blocks (legal drill spacing unit), the seam's thickness (closest neighbour interpolation) and a gas content factor of 100 standard cubic feet per ton ('Scf/t').

Just wondering how valid are these assumptions? NO flow rates here yet.

The other tenement, Oriva, is listed at 7 Bcf net
- the flow rates from those wells aren't that great though and overall assessment is subject to assumptions derived from sampling in the wider Powder basin.

What I'm trying to figure out is whether the current market cap of $46 million is worth it? Companies like EPG have a market cap of $96 million and are in a similar situation because they just have estimates based on assumptions, not established flow rates. However, there the potential resource is POTENTIALLY 3000 billion for the whole Loraine tenement (1000 reported for 15% of Lorraine tenement of which they THINK 50% is recoverable). Not try to down ramp PGS and upramp EPG...just notice there are some experienced investors here that seem interested and wondering why? Is it just being swept up in the CBM frenzy at moment?