what i really liked in quarterly

Hi,

TB seems to surprise us with every news. Apart from what has been stated earlier, he threw in this amazing piece of news:

Under Niobrara formation - TB reckons that in Permian and Pennysylvania formations there are two closed structural traps of CONVENTIONAL oil pools. Note that these are conventional meaning you can get oil via verticals and no need to fracking. The estimated recoverable oil is 18 Million Barrels (we have 45% share). We will get to test this as part of farm-in deal with HB - no extra cost but decent rewards if successful.

My curiosity is - What is beneath the niobrara formation in our retained acreage ? If same as in farm-in land, then we are in real Bonanza mode.

Make no mistake - the value of conventional oil (if reciovered) alone will be more than 50 to 60 cents per diluted share. The cash cost to recover a conventional Barrel of oil is typically $10 to $15 compared to upwards of $40 to $50 for unconventional