steve graves and ggp, page-43

Whiskey,

I was trying to be very conservative but realistic. In considering royalties, I kept the bopd avg to 250 as its simple and even though we know #1 has greater than 350bopd it should take care of royalties and other incidentals.

I really have no idea of costs to GGP and was using back of envelope stuff to cobble together a visual idea for myself.

The average might exceed 300bopd but that would just be a bonus in my eyes.

Anyway you cut it, we should be able to generate an idea of the shareprice increase per well brought into production less the discount for the CR.

Essentially we have 2c for one producing well, now I am assuming we could almost add 1c of shareprice per additional producing well.

Even if we took that back to 0.5c per producing well, we should see 3.5c heads share price mid Jan, or again am I being too optimistic?