Thanks for posting that JQ. Now he is basically stating the same things he said last time, the only difference is that we now have a 800mcf/day vertical frac done by talisman. One thing to note is, Forest Oil's frac came way on the other side of the qec acerage, and both with similar results for a vertical well. I believe that with that last well, we have derisked a lot of acres of land in between...which is something great for us.

Also, remember that he is giving a $6.40 target based on what he said last time, using $3500/acre for our land. That in my view is VERY VERY conservative, being that land in the NY shales is fetching $10,000 to $30,000 in some parts...even heard of $10,000 for unproven land. So with that said, if after everything is proved up, if we got $15,000/acre (still being conservative for proven land), we're looking at $30/share using today's O/S value.

One thing to note as well, is that the Barnett is increasing it's proven reserves every year and the recovery % is going up as well, at the start I think it was around 10% and now I've read up to 50% recovery in some parts. So it might be in the companies/shareholders best interest to hold out selling the company as things can get better with results/reserves as time goes on.

Thoughts?

Rocco:)