Rosey,I'll do the calc at a gas level (very rough & high...

Rosey,

I'll do the calc at a gas level (very rough & high level)...

20BCF is approx 21PJ. Gas is trading at around $4/GJ therefore 21,000,000 times $4 = $84m. BUT, it obviously depends on the oil/gas mix. If you use their 3.5m bbls oil equivalent and then multiple by $90bbl then its $315m.

So the answer is somewhere between $80m to $320m dependant on gas/oil ratio's and this is revenue only. Subtract cost of production, royalties, capex to develop etc.

But its significant nonetheless!!

Cheers

Maddoc