Ann: SWISH AOI Strategic Acquisition, page-32

Exactly, this changes the development dynamics.

For example, CLR are drilling a very long lateral (greater than 10000 feet) across 3 DSU at an angle of ~45% which passes just south of the Jewell DSU . This is only possible if you have 3 contiguous units. You don't need to worry about being 660 feet from the boundary if you own/ operate the adjacent unit . If the spacing pattern allows, or if you can demonstrate to the OCC that drilling off pattern provides the most economic result, then you will be allowed to drill more efficiently across the whole package.

It is all these nuances which provide the opportunity for significant value add, and BRK/ BM have shown they are very good at this game.

Of the the BRK Sydney luncheon now.

Cheers

Dan