RE: RE: RE: RE: an other new well About $5 million if prices stay in the $95 barrel range for Edmonton light. I am using a $50 net back but that is a bit of a guess because i am not sure how many wells have switched from 5% up to 40% royalty.
Even if this new well works out it would have a very marginal effect in Q1 as it will take probably 30 days or so to drill and then do the frac or whatever and with February a short month you would likely only get it on the last couple of weeks of March best case.