nwe broker report - extrapolating to tte, page-25

nihilism I didn't say that's what it's worth now. I was using the same methodology as hartley's used in their report to provide a comparison between the two. If you include factors like time to drill, cash on hand etc then that figure / market cap provides a reasonable basis for comparison across the sector. No I wouldn't expect it to get there on nearology alone but it does serve to illustrate upside potential. The entire NP basin shale concept is being substantially derisked by it's first frac program and that has implications for everyone who hold ground in the area. Especially those lucky enough to still hold 100%.