G. Steven Farris - President, Chief Executive Officer, Chief Operating Officer, Director
Roger B. Plank - Chief Financial Officer, Executive Vice President
Analysts
Tom Gardner - Simmons & Co. David Tameron – Wachovia Securities Brian Singer – Goldman Sachs Leo Mariani – RBC Capital Markets David Heikkinen- Tudor Pickering Holt
David Tameron – Wachovia Securities
Then a question for Steve, you talked about the Eagleford and at the conference that was more focused on the oil side, can you talk about the potential on the gas side in that same property?
G. Steven Farris
In fact we’re drilling two wells that we think will be in the gas window as we speak. Certainly, if you move down to the gassier part of the Austin Chalk which many of you might have read, Petrohawks, now we’re quite a ways to the northeast of the Petrohawk acreage but there’s a high in between the two but both of them are over old Austin Chalk fields and they drilled in to gas window of the Austin Chalk and we’re drilling these two wells in the gas window of the Austin Chalk and we anticipate them being gassier.
Actually, we anticipate them being gas. Certainly gas can move through the shales a little bit easier than the oil. Although, I’ll be real honest with you, I’ve got to be careful, I really wasn’t expecting that kind of rate out of the Eagleford in the oil sites. 525 barrels a day if it will roll over will be very, very economic.
David Tameron – Wachovia Securities
When do you anticipate giving us an additional update on that?
G. Steven Farris
Well, we’ve got another well that we’re getting ready to frac. We’ve got four wells down with horizontals in them that we’re fracing. We just fraced a second well and we should have some results in the next month. It will take a month to understand the decline curve associates with this first well that we’re talking about.
ADI Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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