marathon may have increased the value of...., page-12

So in other words you believe KRR essentially had a 40% working interest in all of Hilcorp's activity, as opposed to owning 40% of the company's shares?

Here's a quote from the KRR website regarding the 40% acquisition, I'm not sure whether this fulfills the criteria of what you suggested, or whether it more leans to what I Was implying:

"Hilcorp will hold 60% and KKR will hold 40% of the Company, with Hilcorp's management and employees running the day-to-day operations".

http://www.kkr.com/releasedetail.cfm?ReleaseID=479123&KeepThis=true&TB_iframe=true&height=461&width=592

I'm expecting a production update soon, it'd be great to see some Excelsior results in the next week or two.