Also it's 70% liquids, I don't know exactly how you modify the calculation but 150*.7 is 105 which is $5.3m at $70 over two years. And the other 30% is gas and NGLs? So roughly $5 per barrel for that is $200k. So maybe $5.5m all up?
I'm not sure if then there are costs to come out of that other than we need to pay the $2.5m upfront?
But if the above is right then we are net ~$3m over two years on that announcement. Love for Dan or Lew to run a red pen over those back of the envelope calculations.
Ann: Brookside to Participate in Gapstow Full Field Development, page-26
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