Don't get me wrong, EEG can produce a fair bit of gas. The NT...

Don't get me wrong, EEG can produce a fair bit of gas. The NT contracts are insignificant volumes of gas. It's a statement and a locking in of support and little else.

The issue is building a BCF/D pipe and amortizing it over the necessary period of productivity. Maybe two of them! And an LNG facility. TBN steers that boat as they say, EEG can come along for the ride on small volumes and successfully drill, produce and sell on a smaller scale. But they cannot drive that project like TBN can.

The other issue is economics, EEG will be cheaper on execution due to depth, but they will be disproportionately punished on productivity. There's a saying - the best rocks win...and EEG doesn't have them.

I'll out together something on valuation in a bit.