Stonehorse energy projected profits, page-13

This graph is projected cash accumulation based on the assumptions:

1) Stonehorse take advantage 2 gryphon sections and 2 more Certus sections and that they perform as the Certus has, and Gryphon is procted to using the profiles curves produced last year.

2) Another set of wells are opened in canada that have the same profile as Gryphon and Certus.

3) Gas,NGL and condensate gas stay the same.

The start of the graph (x-axis ) is jumpy because their are large chunks of cash going into new wells.

Once re-investment stops..cash accumulates ,well slow down slowly, when modeling them the financials assume a 10 year production cycle although apparently they will keep producing for 20+ years.