hi guysjust a few simple calculations.i've used fully diluted...

hi guys

just a few simple calculations.

i've used fully diluted figures

2 depths....

approx 41mm fully paids, approx 41mm options EKAO at.20 expire 31/3/2008 = 82mm shares

NRI = Net Revenue Interest

1) Deep target 800bcf, could be more

800bcf X 9% NRI= 72bcf

72 X $3 = $216mm Divvy by 82mm shares $2.63..oppies worth $2.43

72 X $5 = $360mm Divvy by 82mm shares $4.39..oppies worth $4.19

1) Shallow depth 100bcf

100bcf X 9% NRI =9bcf

9bcf X $3 = $27mm Divvy by 82mm shares = .32cents..oppies worth .12cents

9bcf X $5 = $45mm Divvy by 82mm shares = .54cents..oppies worth .34cents

oppies could be worth plenty

EKAO ex price .20cents expire 31/3/2008

regards