Awesome deck. I’m still absorbing. Here are a few questions I’d ask:
1) Tell me about the 19 years. How is that calculated? How can I do it myself to verify?
2) 7% of royalty acreage is developed. What’s the pragmatic maximum that this figure can get to. It can’t be 100%.
3) When is that cash being returned? And why is it in the slide deck as an ROC now?