1 Billion Dollar Capex at KawkaAt current prices of $90 WTi ( $115 dollar C5+), $6.50/Mcf Cdn, $50 per bbl NGL and $20 cash Costs, we get a netback of $75 per boe. $350 of additional capex gives 40 additional wells, 8.5 million DCET to give an additional 40 wells or 220,000 boe. No new processing needed Assuming a decline rate of 40 percent gives $876 million of cashflow. Payout approx. 4 months. Without my calculator we get free cash flow of 876-350 or 526 million. In the patch we used to call this growing company value. Mike Rose I'm sure ascribes to this concept. Again without my calculator, the 526 million of incremental FCF is about 526/700 or approx $0.75 per share or at 5 times FCF about $3.75 per share of value. No body including me can predict prices but two factors are at play. Eric Nuttall is absolutely right on an energy super cycle due to supply/demand fundamentals and secondly the war in Ukraine is orders of magnitude worse than anyone can imagine. IMHO (as a former offer in the CAF) it will take months for the war to be resolved and the sanctions will be in effect for years. Ever wonder why NA natgas prices have increased by 2.50 per mcf? Simply because the US is exporting more LNG to Europe. This is the only reason as historical storage do not support these prices. In summary, we are not in a COVID environment. Strong prices are here for at least 12 to 24months. Longer if Europe actually cuts back on Russian Oil and Gas