resume trading details., page-12

Yep and most of the 90 odd million 25c options expire at the end of May!

Not sure if the $220 mil is much of a guide to potential MC.

Pretty much at the end of 3 years we should own about 15000 acres net of about a 100k acre gross portfolio of proven oil producing land with maybe 30 to 40 wells.

And then the drillout will commence, in the eagleford they are now testing at 1 well per 40 acres.

15000/40 = 375 wells

Each one of those wells will have an NPV of between 5 and 15 million US dollars.

The very exciting thing about the Talisman result that is within metres of our southern duvernay lands is results like that make the top end of the NPV more likely than not.

Whilst management have pretty much adopted the AUT business model we have more ground and a better deal than AUT.

Its pretty much down to the rocks now!

And the first result was a cracker(Talisman drilling) and it was so good Talisman are selling up all other duvernay exposure to fund and focus on our little patch of the world.