when one reads Rebels post keep in mind his numbers are factual ,just as those hedge numbers below are factual ,just keep in mind hedges are 20+% of production,or put another way 2500 is hedged but 5000++ is not and is in line to reap the benefit of an escallating price,ok by the same token 5000 is at risk of being discounted,still the optimistic view has so much going for it with increased production and that escallating price which will happen with everyones effort of tamming this economic recoverey.AIMVHO :-)