RE: Re Valu$19m USd will likely be this years exit rate of cash flow and that is in line with exactly where Wadsworth was going. BUT he also discussed a continuing trend in opex declines, production increases and export pricing which = netbacks. Therefore I would guess that if they continue the trend ( June exit 3500 BOPD and August 14 rate of 4000 etc they will conservativley exit at 4500Bopd. Grow that to next year and add 3000 and you exit at 7500. Now they are exporting more and more so as he said there is a $3 improvement in netback now and it continues to improve. I would hope they have somewhere around a $20 netback by exit 07 which is $4.5m per month ($50-55m annual )free cash flow...u still with me? Now cash flow has grown from $18 or 19m to exit rate of $50m for 2007. Go tell me again what kind of P/E they should be running on that basis. Now again 101 analysis...Asset value..ie book value In the companies Power point it covers the 51-101 qualified reserves of 100 million barrels worth last year $290 million USD on a NPV 10 After tax, up from $230 m USD the year before. With the company continuing to export additional oil the NPV will definately be up again ....Tell me again what you think 100 million barrels of oil with a $15+ netback is worth with production increasing 25% quarter?? If 2300 BOPD at $6-10 netback is worth $290m then....Go ahead you vs Adams Pearson in Calgary...This stock is going up... WAY up, nothing personal just math.