price of sea 2.0, page-4

Sharejon thanks for that breakdown. It is indeed SEA 2.0. The Dow did the right thing last night.

Eric just gets the job done - Helis are selling, we will see what happens and yes we will bank $170m. We will increase production - doubled since he took over. Sometimes perceived lack of information is frustrating and that is when you need to have faith in management. He is a key factor in my holding this share. But we move forward and he will now be judged on what he does with it.

Once traders move on and as I posted I took some profit this way as well in the past so have no issue with this strategy, but I have always held a large holding and this is not for sale. I see this as the beginning not the end.

$215m mkt cap, $145m to spend after the transaction (and the $25m they draw down on the loan is being used on development at present, it is not a "legacy" loan) and shpuld still be cashflow operating positive after the sale. They will be drilling high % Mississippian Wells for $3.2m to $4.2m and Wattenberg Wells for $600k to $800k - that $145m even allowing $20m for new Mississippian land is gonna drill you a lot of wells.

The Niobrara we are drilling part of this with Noble who are the premier driller in this area. We would have learnt a lot from the first well partnered with them. We will also have the opportunity to look into drilling Horizontals in the Wattenberg (as per previous presentations) which Noble have done well from.

The other Bakken assets well they will produce but most likely be sold when the time is right, I am very interested in those Bear Den wells that EOG have been drilling in Phoniex right next door to the South Antelope holding. 2 x 60% wells to follow at some stage.

Great position to be in, now the next stage is deliver again on this outstanding result.

Have a great weekend.