I agree with you on your last point, there is still a lot of value in POE. However, flowing bbl metrics should be used with caution when the reserve base is as limited as POEs is in L53. We're basically talking about maybe 2-3 MMbbl in L53-E and L53-A . I like to use 20-25 USD/bbl as valuation for barrel in the gound in production, and that puts us at maybe a buck or so for the current reserve basis, the rest is prospective.

Darcy