Ann: May 2012 Corporate Presentation , page-6

Thanks for posting that whynot.

That's averaging ~1750 boe/d (87% oil) over the first 29 days. After taking out the 20% royalty burden, that well would have made $3.2 million in the first month, using $90/BO. Simply astounding!

Whilst alot of Bakken/Three Forks activity appears to have occurred, we must remember SEA only have 6.9 net producing wells out of the 56.9 net possible wells under the current spacing assumptions, which could definitely be densified in the future.

We could see a resource upgrade soon, after initial Leon Pecha (and maybe Leroy Unruh) results are obtained. It should help SEA get a better price on the Goliath divestiture.

Let's hope the price of oil and markets can stabilize, as SEA's fundamentals keep on looking better by the day. Couldn't be happier with the direction the management is taking this company at the moment. Fingers crossed!