devonian carbonate play, page-42

sorry robs missed your last comment. The 25% is the recovery rate. With all the variables I kept the recovery rate at 25% and just reduced the cost per bbl to $40 (50% of the so called "longer term outlook" for oil prices) based on a ML report I read.

I think the cost to the company including discovery and transportation from simpson was around $6 bbl. Then we have the % interest to deduct and further dilution possibilities. Regardless of this, even cutting the conservative figures in half still leaves a very enticing image of what impact some of these prospects could have.