RE:RE:RE:RE:RE:RE:RE:RE:Highest cost, too much Nat Gas %.At what price do you start hedging? If you hedge now and oil goes back to $100 (let's just say for arguments sake); so you've hedged ~50% of your prod at $65, you're significantly limiting both your cash flow and more importantly how the market will value your shares. Its been said on this board before, and I think HP said it best, hedging is an art form, if it works, you look like a genius, if not, the market will not be kind to your share value. I say CR and JR were right to just leave it up to the oil gods and just be fully exposed to the market value of oil. Part of the reason why I was so dissapointed to see such heavy handed hedging by POU. But oh well, after Q2 the hedge book *should be closed along with strong oil prices. GLTA