we now have our company maker ;-), page-12

gator,

$74m - tax

say we have around $65m net (with a balance up of gas asset sales)

- debt $11m, paid off = debt free

leaves, $54m

Enercom talked to TB about the future in the article "on the road"

budget till end 2011 = $35m (niobrara and bakken)

they cannot announce with certainty a plan for the rest, except to say, they intend to look at bolt on acquisitions in the Bakken, which may or may not add to that near term spend.

(as we have seen, they are still buying a few more acres in the DJ)

forward spending plans were covered in TB email to me, where they need the results from the 2 early Niobrara wells to plan any further ahead.
ie: they can't announce it as it is too speculative.

yes, every cent is not covered, but around 60-65% has already been signalled, and if they carry out the signalled intensions we are looking at 20+ wells in that timeframe.