marathon may have increased the value of...., page-44

AKK has just issued a geologist's report on their prospect in Burleson County, way up in the north east of the oil window.

This is not a plug.

It contains a lot of interesting information on the trend and shows how the NPV calculations are constructed.

Our wells seem to be far superior in terms of payback period. I have yet to study the NPV calculations in detail, but all of the scenarios appear to break even in year 2.

Our wells appear to be breaking even in 6 - 9 months. The AUT quarterly to 30 June will have more data.

Further - they give a table of EURs split between Austin Chalk, EFS and Buda. I don't think that we've counted either the chalk or the Buda.

There's a lot of reading to do.

http://www.asx.com.au/asxpdf/20110707/pdf/41zn8hyzgcr96y.pdf

In terms of location:

We are in Karnes: then, moving along the trend - Gonzales, Fayette, Lee/Washington, Burleson. So, they are a long way from our sweet spot.

Yet another endorsement of the value of our acreage.