Ann: AGM Presentation , page-19

Low end you need 210 wells.

Assuming we could eventually move to a stacked well design and get those 80 bbl's/day producers into a stacked format thus reducing capex to about $3 million per lateral, that is about $630 million in capex to generate gross revenue of $551 million per year at $90 per bbl. I know we are a long way from drilling and fracking at $3 million per lateral but I think eventually that is where the development costs will fall too.
Approach are heading in this direction by doing things such as reducing trucking costs by using in field pipes for water and have invested in their own rigs and sand supplies. Not sure we will get their for another few years - assuming we aren't taken out while we are locked in the basement