Ann: Rosewood Plantation 21H No.1 Drilling Update, page-29

re: Ann: Rosewood Plantation 21H No.1 Drillin... Hi V8,

I only ever work on approx net cash back to the company - its all you can work off of when doing NPV.

Gross 59,000 barrels of oil is absolutely not even close to to your number. You need to use the NRI. Then you need to deduct LOE.

Using $85 Oil and $4.4Mcf Gas ends up about $2.4M in Month 1 on the above production basis.

That was 1 month only - the decline is steep - which is why a high IP30 day is needed (and high IP24hr to kick it all off).

Well Capex closer to $7M - $8M in total.