oil price, page-18

Luap . I think at $1 we have a MC of $238 mill which I think we could handle if the ramp up continues as planned.

In the short term we have on going ramp up with many completions due with particular attention to

Henderson 20% long lateral - looking for 2500 bopd+ IP
May Jon 100% x 2 wells smaller but effective.

These 3 wells will get us lcose to that 1000 bopd mark I would feel after the decline curve.

Other drivers will be potential farm down of our Niobrara and the eventual drilling by Noble next year of our first Niobrara wells. This could be huge.

Reserves are also likely to improve. I am not sure when the next reserve report may be due but you would expect it to be considerably higher than what they have.

If any of these surprise on the upside then our valuation may be higher.

Off course they have all those wells which underpins all of that.

An oil price north of $90 will off course be fantastic and just add to that. There seems to be alot of talk of an oil price above that by xmas.