Question-and-Answer Session
Operator
(Operator Instructions) Our first question comes from Ron Mills with Johnson Rice. Please proceed.
Ron Mills - Johnson Rice
Good morning, guys. As it relates to the Bakken play, just out of curiosity, there is a lot obviously have been said about that play recently, can you give us an idea of where figure (inaudible) 12,000 net acres are located in terms of potential counties and beside the OEG, who are some of the other operator are who have proposed wells to you?
Jim Palm
You know, Ron, 35% of our equity is in Montreal County, 50% of the acreage is in Dunberg and McKenzie counties, which are nearby and the proposals we have to date are from EOG, Marathon, Headington and Continental primarily.
Ron Mills - Johnson Rice
Okay. And how quickly do you think you will get well drilled in and/or have data to talk about on this place.
Jim Palm
Well, we are trying to see what’s going to happen. The things are speeding up and we are participating in wells right now. We’ve already committed to about a $1 million so far and the last part of 2000. And Ron it’s really not out there. We are acquiring more acreage. You know we will get some guidance before the end of the year but I wouldn’t be surprised if next year we spend $1 million or more.
Ron Mills - Johnson Rice
Did you say $10 million?
Mike Moore
$10 million or more up there because we're already at a $1,000 net to go forward this year and the year is not over.
Ron Mills - Johnson Rice
Okay. Small clarification on the Grizzly, if they go out and raise money, you on 25% entity, which you receive proceeds from that would be at the actual company, corporate levels selling shares.
Mike Moore
We would not receive proceeds from them.
Ron Mills - Johnson Rice
And then finally in West Cote in Hackberry this you had three to four rigs operating throughout the majority of the year. You might have read into your comments that next year you plan on having one rig active in both plays for majority of the year and to the expense you get depending upon timing for permits for the additional land locations that you may end up with the second rig at Hackberry.
I’m just trying to get sense is the 2008 well count versus 2007
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