RE:RE:EPSYes, it's tough to tell how much of the capex is to replace depetion and how much truly adds to the reserves and production per share. The % hedged going forward is impressive as is their average sales price per boe in the quarter (their railcar facilities are obviously contributing to that). They are now trading at only 7x FFO which would seem low for the quality and performance of this company - perhaps Zeus55's concerns about POR ratio are shared by the market (even though none of the fund managers you see on BNN mention it).