Ok I see where you're going however I think that you might be a little rich on your $/boe prices particularly with respect to Chris Coopers observation that ARW acquired West Hazel for 10k per boe/d when essentially the going price per boe was 40k. so I might suggest that if you simply cut your 65 and 45 and 85 in half you would likely have a realistic valuation... one that the market seems to implying judging by current trading and in fact one that Chris essentially alluded to when talking about West Hazel but I will admit that if your numbers could be supported by any objective comparatives ARW would be compelling based on projected growth.