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Mike Fletcher

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Alias Born 04/19/2007

Mike Fletcher

Re: None

Tuesday, 07/27/2010 12:10:16 PM

Tuesday, July 27, 2010 12:10:16 PM

Post# of 21288
Someone please double check my math but I believe MXXH's 50% stake in the gas portion (using lowest projection for gas reserve of 6 Bcf of gas) is over $13 million which is over $0.04 per share (17 times greater than the current share price).

Here's my calculation:

6,000,000,000 cf of gas
1,027 btu per cubic foot

6,162,000,000,000 btu of gas
1,000,000 / million
6,162,000 MMbtu

$4.50 price per MMbtu

$27,729,000 Gross revenue
50% MXXH stake

$13,864,500 MXXX stake in the Wilcox Formation

312,000,000 shares outstanding

$0.044 MXXH per share


Substance over style.

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