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Timothy Smith

08/25/12 5:49 PM

#58 RE: Timothy Smith #56

That is a great news. I am very excited to see how they expand from here.

Voyager Oil & Gas also is transitioning into an operator, but still has mainly non-operator holdings. Voyager has 43,600 net Bakken acres and averaged 938 Boepd in the second quarter.

The company also has acreage in the Niobrara and Heath Shale.

Voyager has an enterprise value of $141 million.