I have run the numbers and I have also refined my modeling spreadsheet. I need more information to fine-tune it, for example, the North Texas Barnett Shale line is projected at 17.5 million at 80% capacity. Should I assume a linear increase to 100%? What about the ficed cost ratio? Expansion of it at 15 million should add 17.5 more million in cash flow. I have the numbers crunched at home, will try to post tonight in a detailed email. I can make a good case for a $5.00/share dividend. It might be end of 2007, but when you stack all of the projects and expansions on top of each other, it is possible. XTXI now my largest single holding.
Its my largest position also, and yes, I do sleep well at night.
I think they said $15m of additional cost to build out the capacity of the Barnett Shale pipleline, do you remember anything along those lines? I also think I remember them saying that the indications they are getting from customers leads them to think they will end up doing just that eventually.