Sunseeker/MadMax -

I agree that October 2007 SP is conservative. I expect a run to .50 on good news (I calculate a a rough minimum of .35 SP per 1000 barrels per day of production). My longer term exit points are much higher because I believe that BC is building a company that will ride the rising oil price over the next few years.

Remember, that the oil coming from TN is a very"light, sweet crude." It my memory is correct, it is of the grade that you could just about put straight into a crankcase (like the oil from Penn). This quality of product requires minimal processing and should bring s premium.

Panamax