disappointing, page-27

0118...

That sort of information will not be known for some time.

All my calculation relate to pre-drill prognosis versus confirmed hits, then extrapolating for likely net pay for a mid-case accumulation size.

The numbers are all very much indicative...but the specifics you are talking about require bend-casing flow testing for at least a day for each zone just to get an early idication.

Definative results will not be know until more long-term production assessment can be made...and even this will be subject to confirmation with every new well that is drilled!

Long wat to go...but if the numbers come in any where even close to some of my suggested numbers, the price will likely be multiples of current levels.

Assuming for one second we have a Lisbon producer here...lol...which would actually only have encountered 2 productive zones and a likely net pay of just 60 or so ft, then this one well would be looking at a lifetime production capacity close to 30bcf

This is a potential income from this one well, over say a 15 year period and with virtually zero ongoing production costs (benefit of gas), of some US$240m+...and a likely pay-back period per well of between 6-12 months!

This is based on production of about 5-6mmcf/day per well...recent discoveries nearby however are capable of producing double this!

Of course, until we know...we just don't know...lol...but we will eventually.

To put this in perspective...even just a 300bcf field will support 10 such wells, producing some 30bcf each over their respective lifetimes...for a grand total income for the field of some $2.4b over just a 15 year period...again, with relatively little production overhead due to the beauty of gas!

But remember...this is what we would be looking at if this were a "Lisbon" well...but it is not, it is a "Golden Eagle" well...and in my view, likely to produce significantly more given they have some 11 potential pay zones even without anything in Leadville...and potentially oil...versus just two or three per well at Lisbon.

As I have said previously, we need to start thinking combination Lisbon/Aneth style production here!

Anyway, might be getting just s little bit ahead of ourselves here...lol.

Cheers!