Undaunted,Honest question.Do you think if they were in...

Undaunted,

Honest question.

Do you think if they were in production our share price would be higher than what it is today?

But isn't there a flipside to that argument? If the MRE comes out strong and further drilling to the north of NN shows something we would be equal or higher ?

Here below is the base case numbers and a matching valuation based on the drilling thus far.





If Pepper really grows and they get more out of WW, Four Pillars and Sly Fox then for me, this valuation matrix is underdone.