A Valuation MetricC-1 appears that it may exit 04 w/ @ 1000 BOED production. It projects 1200 BOED production @ Q105, and set a 1600 BOED goal for YE05 (which seems way too conservative a goal). If one multiplies those figures by a rough current mid range price being paid by the oil and gas trusts of $50,000 per BOED production with say an average of 6.5 RLI, and divide by the approximately 27.1 million common shares outstanding (29.0 on a fully diluted basis)after giving effect of the Extreme arrangement, then the approximate rough per share value fully diluted is $1.72 YE04, 2.07 Q105, and $2.75 YE 05, plus the almost $.50 per share cash on hand per last financial statement, plus the value of the undeveloped acreage. It is currently attractively priced and has good potential for capital appreciation.