conference webcast, page-3

Summary of presentation from Terry

Niobrara Sold for 76 Million (No range mentioned or maybe... SOLD!!!!). No mention of Buyer. Partial closure with the deposit.

Acquire addition Bakken land.

Further farm out deal at Niobrara. Deal to Drill to earn not a land sale.

Less gas development - Rockies Gas sale to protect Niobrara CGT

3D seismic grid fall of US at Niobrara
NPV $799 Million

Bakken
Gary and Rodney Frac to start this week and go for a week.
Earl is next.

Near Term valuation $1.84
Long Term Valuation $10.69 Puts a two year timeframe.

Well spoken and delivered.

I am going to suggest we name the next Bakken well Terry #1.

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