Slide 23 shows the 2012 Capital Forecast. Note the emerging plays account for 3,250-4,000 of the 52,000-56,000 forecasted year-end production. And this is based on only 6 wells drilled in 2012. Assuming that there were no wells drilled prior to 2012 (I'm not sure about that), isn't this 600 bbl per well? This strikes me as very bullish!
Clarification: Slide 16 says that there were 10 wells drilled in 2011-2012. Assuming that the 4 2011 wells have experienced typical first year declines and are therefore contributing around 20% of the total 12/31/12 output of 3,250-4,000 , that still leaves us with close to 500 bbl/day for the 6 2012 wells.