When the market sees positive i think we will see a very...

When the market sees positive i think we will see a very significant bounce for all 3 JVP's.

Pattersons and Hartleys will both need to issue upgrades on theback of Morgan and on the back of the significantly reduced completion times, which has a multiplying effect of dramatically reducing cost and thus massively increasing NPV per well withthese flows and the lower costs.

IF PAttersons had AUT wells valued at $16M NPV based on Kennedy and Weston with thuer completion costs and lower flows then Morgan must have a NPV of something like $40M alone.