Art-  Imho we should see more exciting results in A5 than A4, but could be wrong. Any way,will just be ok by me to hear reports on wells.Good fortune to you and family !

'SamAdams' pid='50659' datel Wrote:

GLJ #s will not be used.  Each company picks a new appraisal firm, and then both pick a third to do get to the new certificiation #..  Neither GLJ or GC can be used.  GLJ may well be spot on, but thier old appriaisal will not be the basis for recertificaiton.  This uncertainty for potential new investors keeps many traditional energy investors on the sidelines as they are used to looking at what's already booked.

Sam, where are you seeing that GCA cannot be used for the certification?  They are specifically named in the SPA as one of 4 firms approved for any of the certifications spelled out in the SPA.

'Palm' pid='50682' datel Wrote:

'SamAdams' pid='50659' datel Wrote:

GLJ #s will not be used.  Each company picks a new appraisal firm, and then both pick a third to do get to the new certificiation #..  Neither GLJ or GC can be used.  GLJ may well be spot on, but thier old appriaisal will not be the basis for recertificaiton.  This uncertainty for potential new investors keeps many traditional energy investors on the sidelines as they are used to looking at what's already booked.

Sam, where are you seeing that GCA cannot be used for the certification?  They are specifically named in the SPA as one of 4 firms approved for any of the certifications spelled out in the SPA.

that was direct form the horse's mouth on the dec roadshow.  My recollection after going through the SPA is that was how it was written as well.  I could be wrong on GC but I will revisit the SPA when I have time.  In any event, IOC will be paid on the recert, whatever that is, versus the old appraisals and there is the structure of each company picking one and then agreeing on a third firm to try to balance any differing opinions..

'Palm' pid='50682' datel Wrote:

'SamAdams' pid='50659' datel Wrote:

GLJ #s will not be used.  Each company picks a new appraisal firm, and then both pick a third to do get to the new certificiation #..  Neither GLJ or GC can be used.  GLJ may well be spot on, but thier old appriaisal will not be the basis for recertificaiton.  This uncertainty for potential new investors keeps many traditional energy investors on the sidelines as they are used to looking at what's already booked.

Sam, where are you seeing that GCA cannot be used for the certification?  They are specifically named in the SPA as one of 4 firms approved for any of the certifications spelled out in the SPA.

You're right GC is listed and the resource is the average of the two calculations.  GLJ is not there althought MH said on the Dec call that they might be one of the firms.  But then again he said in Dec we would have wells results roughly every 8 weeks in 2014 after March.  A4 and A5 Should be additive to the original GC estimates but it is an average so if we get a high and low it diminishes it somehwhat.  That's why the second date is important hedge on the ultimate size.

'Palm' pid='50682' datel Wrote:

'SamAdams' pid='50659' datel Wrote:

GLJ #s will not be used.  Each company picks a new appraisal firm, and then both pick a third to do get to the new certificiation #..  Neither GLJ or GC can be used.  GLJ may well be spot on, but thier old appriaisal will not be the basis for recertificaiton.  This uncertainty for potential new investors keeps many traditional energy investors on the sidelines as they are used to looking at what's already booked.

Sam, where are you seeing that GCA cannot be used for the certification?  They are specifically named in the SPA as one of 4 firms approved for any of the certifications spelled out in the SPA.

You're right GC is listed and the resource is the average of the two calculations.  GLJ is not there althought MH said on the Dec call that they might be one of the firms.  But then again he said in Dec we would have wells results roughly every 8 weeks in 2014 after March.  A4 and A5 Should be additive to the original GC estimates but it is an average so if we get a high and low it diminishes it somehwhat.  That's why the second date is important hedge on the ultimate size.