Ann: Quarterly Cashflow Report, page-81

Umm Junior,

I don't think anyone has denied that oil exists in those source rocks. Whether the extraction is both economic and commercial and at what price of oil and D&C and infrastructure cost is a whole other set of questions.

This well flowed oil and gas already from the Niobrara.

You have to expect it would do the same for Ft Hays formation. It would be more of an omen if it did show up in the well bore. And as far as Florence Field is concerned, there are backyards in Texas with more oil than that.