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Message: Dundee reiterate $8 target

Norway is really over doing it imo. Gentilly (if you read the Dundee report) wasn't for a full blown test to get huge numbers like St. Ed well. The lower utica didn't really do much, and frankly that's not a huge deal...they may tweak that over time or not, as long as the middle utica is flowing. If you work out the numbers, for 3 fracs it produced roughly 720mcf/d, so about 240mcf/d per frac...multiply that by 8 fracs like on St. Ed, and that'll give you close to 2mmcf/d (which is what they are expecing).

The delay does suck, but it's not that long anyway. It's all about your time horizon on a stock. If you want to hold this til the end, then you're happy as I am with the results. If you're in it to make a quick buck, then it becomes very difficult to time and read what's going to happen.

Anyway, I'm pleased that everything is in line and that we have a pipeline being built as well! The delay in drilling isn't the first disappointment we've had and it sure won't be the last. If you're going to drill thousands of wells and build all these pipelines, you can bank on some things not going to plan. That holds true for pretty much any company out there. If you're dead set on seeing this until the end, nothing has really changed and if anything we've gotten more of this proved up with the results of that middle utica.

Rocco :)

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