Ann: Sugarloaf Operations Update , page-32

I've just thrown my first beer coaster in the bin as i misunderstood the petrohawk presentation.here's my second attempt but the end figure doesn't alter much.
in the petrohawk presentation their krause #1h well(just to the east of our acreage) is 3025' in length & they give that an est. EUR: 500 - 750 Mboe per well(this is where i went wrong). our kennedy well with only 2000' in length had almost identical IP to krause .
our future wells are going to be at least 2 to 3 times the length of kennedy.so using 2 time kennedy length & the lower of the est. of 500 Mboe our future well could have est. EUR: 1000 Mboe per well(or 1MMboe).

so based on aut 9659 net acres they need to drill about 100 wells (100 acre well spacings)at about est. EUR 1MMboe per well gives a total of 100 MMboe.

using $70 per barrel x 100MMboe = $7B
less 25% to land owners = $5.25B
less 15% costs? = $4.5B
less 100 wells at $10M ea to be generous $1B = $3.5B
less 30% tax = $2.45B

so $2.45B div 220M shares gives AUT $11.13 a share.

or another way of looking at it.

at $10 per barrel in ground value 100 MMboe = $1B div 220M shares you get $4.54 per share.
if you use $20 per barrel you get $9.09 per share.
i hope this is more accurate.
comments welcome (I'm expecting to be shot down)