transforming nse, page-27

The danger is Pearsall wont be tested for a some time - 1st 4 wells on Peeler ranch (which I agree looks to be outside of sweet spot) but more importantly the cost of well at $10M apiece. So Pearsall is late upside.

Been some recent press on EFS wells nearby in Atascosa.

The things that NSE mgmt are glossing over are.

1. The future expected type curve
2. The expected IRR
3. The PV10 of the existing 5 wells acquired
4. Produce the current type curve - with present EUR and then tell us what is going to be done differently to improve EUR
5. Show the impact that debt and interest have on IRR

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