comparitive production rates, page-3

I've done up a spreadsheet with 20-40 wells producing between 10-50 mcfd and doing an NPV over 30 years at 10% discount rate and the NPV for 40 wells that all produce max is only about $20mil.

This is contingent on all wells being successful and I have included gas prices going up by 2% a year for 30 years and gas prod rates going down by 1% a year.

The current share price is adding a lot of value for "possible growth"... its hyped up, its overpriced.