Dis,Not sure if you noticed but in the presentation, it states...

Dis,

Not sure if you noticed but in the presentation, it states that Range have successfully increased the density to 160 acre spacings.

For those who don't understand what that means, it means that they can now drill more horizontal wells per section. From past AOK presentations, they estimated that they would be able to drill approx 15 horizontal wells on their 5000acre Snake River project based on 320 acre spacings. If 160 acre spacing is achieved, it will mean that they will be able to drill 30 horizontal wells instead.

I just listened to Range Resources latest webcast (Enercom Inc Oil & Gas Presentation 13 August 2012), and Range believes that they have the ability to achieve 50 acre spacings in the Mississippian! I had to listen to it twice just to make sure I wasn't hearing things. If that's possible, then AOK will be able to drill 100 horizontals on their 5000acre Snake River Project.

Will believe it when I see it but pretty amazing stuff if they achieve it especially when you take into consideration the fact that Range estimates each horizontal well has a potential Net Present Value of $7.1million. Of course you'd have to take into consideration the fact that AOK would most likely have to enter into JVs for most of their initial horizontals and also take into consideration that it would take them quite a while to drill so many horizontals (so will need to consider present value of total wells) but the potential is simply mind boggling for a company with a market cap of only $42 million.

And the above doesn't even take into consideration the 100 possible vertical well locations in our Snake River Project or our NW Kansas Mississippi Lime Extension.

We are seriously undervalued IMO especially if AOK can prove that the horizontal and vertical well results to date can be repeated.

Exciting stuff.