west triton rig spudding fermat-1, page-28

Andres

From epr's last Q activity - Cash at the end of the quarter, 30 September 2008: $1,697,000. No debt.

ADD

What you think ew’s $ value is for “estimates proved reserves of 1.5 BCF and proved plus probable reserves of 2.1 BCF. A further 4.5 BCF gas resource is estimated in an adjacent fault block”.

Subtract

This Q’s cost and assuming Ronstieb's $2m cost estimate is correct

Equals IMO there isn't too much needed to farm out or raise to cover the Fermat costs.

I would interested in comments from those that disagrees with the above.

Good luck to all holders

BB