It is my understanding that we only cut 28% deals on the first few wells, let's say on the first 100bpd. If true, each deal should get progressively sweeter, for example:

100bbl*.28 + 100bbl*.4 + 100bbl*.8 + 100bbl*1) *$100 = $24,800 * 365 = $9,052,000 !!