the largest u.s. oil discovery since the 1970s, page-31

Vidya, Here are the facts as I see them, almost all the oil companies in the Eagleford have gone to smaller chokes and reduced flow rates to improve the ultimate recovery of the wells. The FD 2H,3H, and 4H will probably produce 800 bopd for a short time but the TRRC records indicate what I showed earlier. Antares stated they were going to reduced flow rates. The 2 EOG Hundley wells produced 3033 in Aug 2010 or about 50 bopd. Nucular is right that 50 bopd is commercial and as completion methods improve flow rates will improve.The companies are only estimating they will recover 3 to 4% of the oil in place. I think the best to hope for is $8500 an acre or $153 million + $45 million in wells, equip,lake and pipeline, + about $20 million for the petrohawk farmout - $15 million in debt. Total $203 or .66 a share. There will not be any American bidders, Reliance India best bet, Statoil, Cnocc maybe. Last big investors paid .62 a share to Antares. Nucular had some good things to say but James C certainly misspoke about 800 bopd.Worst case, no deal,cannot afford to develop, or wait for technical improvements, cannot borrow on low production rates sell for .25 a share. Lots of Risk would like to break even