RE: February Corporate PresentationI don't think the numbers add up. On January 10, Vero stated in a news release estimated 2006 exit production of 2,400-2,700. They suggest in the Ledge news release that they will have 1,500 including current and all behind pipe only. Add those together and you get 3,900-4,200 exit rate. Either they expect the declines from Ledge to exceed any added production from both companies or the numbers are wrong or they are sand bagging the totals. Even with fresh numbers, there is much uncertainty. Makes it very tough for us number crunchers. Looks like good value here though.
Doug, good call on the $6.25 target. Cheers!!!