the niobara acreage is not proven, page-36

I never said that bakken wells cost $50m. What I said was that they have costs of around $50 per barrel produced.

"the following is a reasonable outline of Bakken fully-loaded production and extraction costs as reported by E&P companies for 2010:
Operating costs per barrel; $14
Production taxes per barrel; $6
Depletion, depreciation per barrel; $25
Total costs per barrel; $45"

These costs are rising fairly fast and I would be very surprised if costs are under $50 at the present time.