chart, page-49

Eagles absolutely agree Niobrara is the main game and company maker for AKK.

Austin Chalk is just some entertainment and cash-flow along the way (EFS should be more of a kicker, but if there is easy pickings in the Austin Chalk lets get that 1st).

malmoe, didn't quite follow what you meant by 18 to 20 return, happy for you to point me in the right direction there. We have a 93.5% interest in the Birch prospect. Yes, you are right, I didn't subtract the drill costs, I wasn't doing a net return calc I was focused on the future cash and had the drill costs as a sunk cost. With regards to gas didn't allow for that in the rough calc, as you say not worth so much at the mo., but gas prices ticking up from their recent lows, wasn't sure whether they would produce gas and oil so stuck with the oil. Anyway they are preping Birch#1 for gas so should be getting some pocket money from that in the near future.

Then there is Birch#2, they sent the drill crew home and AKK have taken over engineering responsibility for that, I believe when they have finished Birch#3 they will get back and finish Birch#2 (sounds a bit like the drillers got sloshed at the pub or something and had a brawl)