crucial fact, page-8

Paul, there is a huge difference between a well not producing because:

1. it is shut in for a workover, after which it is capable of re-commencing oil production

2. being shut in because its oil production has reached its EUR and declined to a point where it is uneconomical to maintain on line.

You have being repeatedly referring to MAD wells' "decline rates". The conventional meaning of the term "decline rates" refers to the process of natural well production decline which leads to scenario 2 described above. Scenario 1 described above refers to the situations where well blockages, pump issues, etc, which require a well to be physically shut off and temporarily halt the production of oil which can still be recovered to the surface once the maintenance has been conducted.

Those two situations are completely different and cannot be considered the same in terms of valuing the company and its remaining recoverable reserves.

This is why I asked you to provide the data on which you based your statements, because I have not found data on the TRRC that allows to distinguish the two causes.

Cheers, Sharks.