whats fair value, page-15

I dont think you realise how important moeller was?

There are options due next month, Moeller was the only thing to add value enough to get the price up to get these converted generating $14mil of revenue,

this would have been used for drilling all the wells.

with Moeller a failure, that has wiped out over 1/3 of the total project value and leaves burleson high and dry.

the only thing left now is the whoppa well area, these well's cost $13mil each to drill, where as the Wilcox ones were around $2.5mil each.

Without Moeller success it means Whoppa is probably too expensive now to explore at this juncture wiping out the other 2/3 of potential value.

this is a huge show stopper.