05-01-2013, 01:16 AM
Since the amount of mcf even there is up for debate and nobody really knows, i think it's pointless to try to set a $/mcf target for the deal. We're going to have no way of knowing what that is even after the deal is announced, because everyone is entitled to their own opinion about what the resource actually contains. Add to that it seems more and more likely the deal is going to be for something bigger than E/A, so again everyone has their own opinion about what the prospective mcf in the ground is. I'm pretty certain that this process isn't using 10bcf at E/A as the anchor for negotiations. That's part of the negotiation itself.