Hedging is outlined in the previous quarterly - was $90,...

Hedging is outlined in the previous quarterly - was $90, dropping to $85. On my calcs they are about 80% hedged on oil and 0% hedged on gas. Gas was sold at $US8.74/MCF last quarter - they should do a couple of dollars better this quarter or around +$1m in revenue. Oil was $US90.46/BO last quarter, likely to only be slightly better this quarter (low 90s) because of the hedging (say + $0.5m before production increase). Overall revenue should be around US$15-16m on my numbers, depending on how much White Eagle production recovers. Regardless, should almost certainly be a record, despite the hedging.

Last Reserves statement was done at $97 so there should be a good increase next time a reserves report is published.

Just my opinion
Monty