You have raised some interesting points. We are not likely to...

You have raised some interesting points. We are not likely to receive EXRs estimate of a typical commercial rate, and I am not sure if the table containing the Base Case, the Bull Case and the Bear Case was created after discovering the deep high pressure sands?

As DD-2 will be fractured vertical well rather than a multi-stage fractured high angle well, in my opinion, achieving 3-3.5 mmscf/from the unconventional reservoirs (only the FMTC and the tight sandstones), appears quite ambitious. But as you say, they would have performed rigorous design work with due diligence. Perhaps you could ask NY to clarify what flow rates they expect from the FMTC and the tight sands, please?

My feeling is the Base Case 3-3.5 mmscf/d represents commerciality.