russ: I hate doing this, because it's from memory.
Jay Taylor determined that NTAH would make (in his estimation) 40 cents from the Miocene.
Then he projected that the FRIO would make 3-4 times that amount.
This should add anywhere from 1.20 to 1.60 plus 40 cents = 1.60 to 2.00.
I just dropped my guesstimate to start at 50 cents, and go no higher than 1.50.
Now as I said if NG is higher in price, than the (I think his figure) of 2.25 NTAH should make more.
Of course then you have to figure in the % that they would give up in a JV, and also the actual results of the strike.
That's why I said that, IMO, the worst case should be 50 cents.
Dont forget that the stripper wells should be added in, and I didn't do that.
Also, I think we need some place to start, and I figured using Jay Taylors numbers were as good as any.
Also,If you want to look at it another way, the whole project should bring in 30-40 million dollars per year, IMO. (again, the variables are in effect + or -)
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