Breitling Energy Corp fka BECC

[FM II]

Just so everyone knows (mackfish), I think I was optimistic on the expenses and well costs on the Parramore wells. For this discussion, it is the way I wanted to do it. Some might have noticed that I didn't charge severance tax in the early years. That was an error. My severance tax provision didn't go back to 2009. I didn't see a need to correct the error, since the leases were still not going to payout and it was of a small magnitude.

As far as lost interest on the money invested, that is taken into account in the present worth @ 8 percent. This is called discounting and takes into account that money invested in the lease is not invested elsewhere. I think that is generally beyond the scope. My main point is that the CW wells were bad.