revenue calculations

benmoff. Can you do the numbers for us on their production from C1, H1, and S2, which together produce 3.7 MMcf/d and 120 bbls of condensate. The condensate alone, according to my calculations produces $3.2 million, (120 x $73 x 365) per year, but I can't work out the thermal value of 1 MMcf/d, and hence the value at the going rate of $7.30 per MMbtu. It seems to me that on condensate alone, they have enough revenue to run the back office, and the gas must put them in a position where the overall burning cost is covered and their cash pile reasonably secure. If that is the case, why on earth all the fuss.

Thanks benmoff.

Barley