Exit Stratergy, page-21

EF wells were twice the current total AFE due to prevailing industry cost structures at the time and simply because industry was still optimising (arguably still is). Whilst depth on a like for like basis will likely always result in a relatively higher drilled and completed cost per well for a TMS well vs a Permian or EF well in the liquids fairway, well costs will fall.

And I would argue that a +90% oil cut by product stream (vs 40-60% depending upon where you are in the EF or Permian and less than 50% in the Dimmit county area of your beloved FDM) on productivity rates akin the best wells in either the Karnes County area or the Delware Basin will more than account for relative well cost differences.

Add to that the relative price premia LLS achieves to WTI, particularly in the Permian at present and certainly Dimmit County (trucking only), and I will guarantee strong initial flow rates from ATS wells will attract TMS interest where oil prices are above US$60/bbl.

Presume you rode your LNG from 20c and sold at the absolute top? because the lack of commercialization of the proprietary 'technology' ultimately proved (again - refer Fisherman's Landing) that the Company and its assets have no substance. If they did, they would have extracted a bid out of the sector per Baytex presenting all shareholders with an opportunity to exit.

And I would ask your mates at Morgans as to where FDM's production is now from its initial drilling programme as the results on the Tx RRC suggest that capex recovery is still many months away yet. As you note: its useful to educate the uneducated.