re: Ann: Unsolicited Expression of Interest i... Remember to...

re: Ann: Unsolicited Expression of Interest i... Remember to reduce for working interest.

Antares has:
87.5% of Bluebonnet (about 5750 acres gross)
75% of Yellow Rose (about 18250 acres gross)

There is the Petrohawk term assignment too (about 9000 acres gross). Not sure what the terms are on that one.

Let's say I use a 50% AZZ net interest in the Petrohawk acreage. Adding up AZZ's net interest in all McMullen fields @$12000/acre, I get a total value of $279million. That would be just south of $1 per share.