annual report and maths, page-7

Part I especially liked about the annual report was the reference on page 4 in relation to drilling on Vermilion 258 this year that "Targets would include approximately 8 bcf of undeveloped gas discovered in 1988". No wonder they were keen to get the Vermilion leases!!! The gas is already there.

Can't question your maths OMR, look pretty good on the assumptions you make. Lets hope it is a long hot summer and those southern belles use a lot of airconditioning requiring lots of electricity from gas fired turbines. Would be nice to see the HH gas price average $4 before winter demand sets in and sends it back over $5. I'm not too concerned about reserves as long as they keep adding these small highly profitable gas pools to the inventory. Cheers. JBC