In the Lake Canyon area, the youth have the right to participate for their 25% working interest and can make that election on the first two wells within what on average is about 2,500 plus so acres drilling block in there. If they don''t elect to participate by the time the second well was being drilled and they are essentially out of that block. The youth did not elect to participate in the first DLB number one well. If the firm drilled a second well and here which is highly likely, they do have an option to participate for their 25% working interest. When they participate in the zones that Barrett is operating, the Wasatch and the Mesaverde, the company’s working interest then reverts back to a 56.25%. Hence, in essence at the deep and intermediate program in Lake Canyon, which Bill Barrett operates, the company has, in general, a working interest to range from 56.25% to 75%. In the shallow formation, where Berry operates, again the company’s working interest is prorated back as it relates to the participation, the company has working interest range of 18.75% to 25%. They elected to participate in the first two shallow wells in the Lake Canyon area and therefore the company’s working interest in the shallow is about 18.75%.

In the Piceance Basin, you talked about optimize and completion. Is that a matter of just being a lot more careful pick in the zones or is it a combination of a little bit different frac technique?

It is a combination of things. Number one, when you look at the Piceance, there is really two phases that the company has gone through. The first phase is optimizing how the company frac these wells, the fluids that it is using, the amount of sand that it is using. The company has done quite a bit of production logging in Piceance area and has identified what it believes are the zones where the best production is coming from. In addition to having drilled 80 wells during the 2005 season, the company now has a better understanding of where some of the sweet spots are and so it has drilled about 26 wells to date during 2006. A lot of the management’s focus is on those higher return areas. Hence, both optimization from a completion standpoint and where the company is putting the drill is what really defines and explains why it is seeing a lot better production rates coming out of the Piceance Basin.

What''s your overall take on the Bakken play up in Williston?

The Bakken play, whether you are in the core part of the sleeping giant trend or outside the trend, when you look at the amount of oil that has been in the place, the Williston Basin is a giant play. In the Tracey drill adjacent to the company’s Red Bank Extension area, they drilled 9,000 feet lateral in the Bakken and during the first two or three weeks of production, they were producing between 200 and 300 barrels of oil per day. That trend actually builds and develops in thickness and reservoir content. The management does not know that there is enough drilling yet and enough information to say that the rest of Bakken play does not work. In fact, there is a significant Bakken play to be made outside the sleeping giant and that is what Bill Barrett Corporation is working on right now. The firm has built a number of significant positions in that place.