Ancient Egypt and Copyright Slater - 1717 Words

CONTENTS INTRODUCTION UNIT 2 READING The IELTS Reading Test Instructions for Test Practice Reading Test 1 Reading Test 2 Reading Test 3 Reading Test 4 Reading Test 5 Reading Test 6 Fast Track Reading Learn from your mistakes How can I improve? Tips from test-takers Sample Answer Page (Listening and Reading) 2 3 4 18 30 42 54 66 79 81 82 84 85 86 APPENDIX Answer Key: Listening IELTS PRACTICE TESTS 6 COMPLETE READING TESTS Topics that are interesting, durable and even controversial have been favoured for inclusion. The aim has been to encourage critical thinking and discussion in IELTS preparation classrooms. All three tests are at a level comparable to the actual IELTS but the later tests pose a slightly higher level of challenge than†¦show more content†¦The research also confirms, for the first time, that dogs are descended only from wolves and do not share DNA with coyotes or jackals. The fact that our companionship with dogs now appears to go back at least 100,000 years means that this partnership may have played an important part in the development of human hunting techniques that developed 70,000 to 90,000 years ago. It also may even have affected the brain development in both species. The Australian veterinarian David Paxton suggests that in that period of first contact, people did not so much domesticate wolves as wolves domesticated people. Wolves may have started living at the edge of human settlements as scavengers, eating scraps of food and waste. Some learned to live with human beings in a mutually helpful way and gradually evolved into dogs. At the very least, they would have protected human settlements, and given warnings by barking at anything approaching. The wolves that evolved into dogs have been enormously successful in evolutionary terms. They are found everywhere in the inhabited world, hundreds of millions of them. The descendants of the wolves that remained wolves are now sparsely distributed, often in endangered populations. IELTS on Track ACADEMIC READING e-BOOK 54 Copyright  © Slater, Millen Passage 3 You should spend about 20 minutes on Questions 27–40 which are based on thisShow MoreRelatedImpact of Emerging Markets on Marketing15122 Words   |  61 Pagesof goods and services called â€Å"commerce† has been a central concern of society for endless centuries. Humans realized long ago that creating a centrally located â€Å"hub† for such exchange was the most efficient way to organize commerce. As a result, ancient civilizations often flourished around cities rather than countries. Athens, Rome, Babylon, Venice, and Florence—all city-based Western civilizations—were also major trading centers of their time. Each had a natural location advantage around whichRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pages5 0.5 100.0 22,737,500 364,270,713 290,121,957 18,203,500 225,801,428 79,033,597 17,690,762 1,018,057,389 2.5 9.9 35.9 9.6 68.1 14.3 52.9 15.7 2.2 35.7 28.5 1.8 22.2 7.8 1.8 100.0 Source: http://www.internetworldstats.com/stats.htm. Copyright  © 2005, Miniwatts Marketing Group. All rights reserved worldwide. Exhibit 8 Revenue (US$,000) Amazon eBay Barnes and Noble Yahoo! Apple Wal-Mart Google Competitor revenue comparisons, 1999–2005 1999 2000 2001 2002 2003 2004 2005 1,639

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Creative Writing A Short Story - 764 Words

How about, instead, I invite Glenn over and the two of us will watch, then send you a written critique with recommendations for improvement, Brett grinned as he tweaked Elenas nipple, his enjoyment of her reaction to that paling in comparison to the squeal she emitted when her panties landed on his neighbours doorstep. He shrugged when she glanced back, To apologise for all that noise you made last night. After theyd entered his apartment and hed stopped on his way to the kitchen to pirouette around, he was uncertain of which of the offered options shed choose. Would Elena suck him off to completion right there, his urgent need for relief not all helped by the way her tight ass cheeks had flexed against his hardon with each step†¦show more content†¦If Brett hadnt already been fully erect, the sight that greeted him would swiftly have fixed that. Elena was spread out on the king-size flanked on either side by mahogany dressers, the top drawers of which each were locked, fully exposed to him and hand between her legs. The man released a groan as his aching cock twitched, and almost dropped the ice-bucket on the floor. I thought I said not to start without me. Bretts voice was husky and he barely managed to croak the words, gaze briefly meeting Elenas before it slid back down to the heels she still wore, and then halfway back up to witness her fingers dip in and out of her glistening cunt. Transfixed by the view, he had no idea how long he stood there before he eventually forced himself to move. Brett approached the bed, placed the ice-bucket and two glasses on the dresser adjacent to Elena, and gripped her wrist. He pulled it away from between her legs and smirked down. So, youll need to pay for that as well. Brett opened his hand to display the ice-cube in his palm, then lowered his arm to run the edge of it lightly across her clit. On his feet, beside and above her, he slipped two fingers second-knuckle deep into her pussy and drizzled ice-cold water onto her clit, simultaneously grasping the hair at the nape of her neck in his other hand. He used that as leverage to pull her torso off the bed, and bent to mash his lips against hers. Then, just as quickly, the man brokeShow MoreRelatedCreative Writing : A Short Story1020 Words   |  5 PagesThe girls sat seperated in two stark, cold rooms. Each of the girls was sat at a table with a clear plastic cup of water sitting at arm’s length from them, both cups untouched. How could they drink when their best friend was no where to be seen? They had been having an innocent night of fun at Mercedes’ house three weeks ago, the first of many planned for the spring break, watching movies on Netflix and eating a pizza they ordered. Th e night was full of rambling about how classes were, drama floatingRead MoreShort Story : Creative Writing1550 Words   |  7 PagesIn the woods when the sun was just starting to set, there was a van driving on a long-abandoned road, behind the wheel of said van was a tired looking girl who seemed to be about 19. She took a sip of the long cold coffee, and turned to the turquoise haired girl sitting next to her. Hey uhhhh Cas, Cassie? Where are we? Noting the headphones, she stopped the car and turned around to inquire of the two boys in the back, Kenny, Timmy, do either of you have an idea where we are? It seems like weveRead MoreCreative Writing : A Short Story1281 Words   |  6 PagesSMACK! I was on my back, peering up at Josh as he laid on top me. â€Å"Gotc....† He begins to say but stopped. The look of victory slowly vanished from his face at the realization of how little space was between us. I could feel his heart hammering in his chest or maybe it was mine. Because, Josh was now searching my eyes as if he was looking for an answer to a question. His lips were only inches from mine and I could feel the heat coming off of them. Everything inside of me screamed to move awayRead MoreShort Story : Creative Writing865 Words   |  4 Pages Brrring! Brrring! Brrring! Brrring! â€Å"What is someone doing calling at 2am† whispers Dave groggily as he wipes his eyes and p icks up the phone. Yawning, somehow he manages to make something comprehendible come out of his mouth, â€Å"Hello? This is Dave speaking.† â€Å"Dave! This is Joe†¦ your old roommate from college. How are you doing?† â€Å"I am doing fine.† says Dave thinking and thinking about who Joe is when suddenly he remembers. At that moment he groans but manages to put out a polite response,Read MoreCreative Writing : A Short Story1037 Words   |  5 PagesThere she goes again. Mother can’t ever mind her own business, Seriously will it kill her to just leave her thoughts to herself. Little Mike came up tugging at her sleeve, his soft little fingers grasping at the cloth, a pull then another. â€Å"Yes sweetheart.† Mike looked at her, his finger pointed forwards, just at the edge of my vision. â€Å"It’s our turn now mommy.† She looked up; Mike quickly ran forward. â€Å"Woah slow down buddy, you can’t walk away by yourself.† Mike came to a sudden stop;he turned toRead MoreCreative Writing : A Short Story1102 Words   |  5 PagesWhen their parents entered their room, Charlie watched as Maggie walked to the window and kept her back to them. They could al l tell she was upset about something. Looking at Elliot, she pushed herself up further in the bed, as Callum grabbed Ian and took a seat on the chair next to her. Ben clasped his hands in front of him as he took a deep breath. â€Å"Ive been asked to stay here in order to help Rachel on her work supplying the Republic with power. I plan on asking Miles to let all of you andRead MoreCreative Writing : A Short Story1148 Words   |  5 Pagesbench nearby. And that’s what she was doing now. She sighed and stood up to go home. The next day she went to school and her best friend Sarina asked, â€Å"What’s wrong?† She then told her the whole story as she didn’t know what happened yesterday because she was absent. Hearing the story she said, â€Å" It’s a good thing that I upgraded my remote few days ago. You should go to the remote shop today after school.† Then they both went to class. When Maya entered her first class she saw Tasha andRead MoreCreative Writing : A Short Story1583 Words   |  7 Pagesforbid, if you don’t find it within two seconds, then youre most definitely an incompetent driver. Almost needless to say, Jason didn’t follow in the outlier’s footsteps, and he aced the questionnaire. Though he did take note that his examiner was creative with her questions. She was probably was deeply saddened that there wasn’t a convoluted touch screen to inquire about, Jason thought to himself. Finally all the formalities were complete, consequently, he took a second to get himself mentally, andRead MoreCreative Writing : A Short Story1440 Words   |  6 PagesPayday arrived for both me and Patsy, giving us the opportunity to attend the luxurious cinema and a wider variety of movies. As we stand before the array of movie posters, deciding between an action or comedy, somehow, how conversation shifts over to John. â€Å"He was so excited about the other night,† says Patsy. I abandon the posters and give her a questioning look. â€Å"About what?† â€Å"Well, first of all spending the evening with you, and then because you hugged him the way you did.† She taps her fingerRead MoreCreative Writing : A Short Story1615 Words   |  7 Pagestown to barter, we’ll ask around.† Shocked that her husband knows about Miles tattoo on her arm, Rachel clings to him in the silence, her mind racing at the possible implications. XXX Rachel sits stunned at the table, listening to Ben relay the story that he’s heard over and over in the village nearest to the house they’ve decided to ride out the winter in. â€Å"Soul Marks? How is that possible? These are just replicas of tattoos,† she replies with a disbelieving shake of her head. Ben shrugged

Analysis Of Chrysanthemums By John Steinbeck - 971 Words

Chrysanthemums† has many different ideas of what women’s roles are in today’s society. I think one of the key themes is gender inequality. Elisa is a passionate, independent, and a beautiful person inside and out. And no matter what she does or says, her husband will never see her for more than an object. Because the story is written through Elisa’s point of view and is set in 1938. Because of this, it really portrays where women stood at that time. Taking place during winter in Salinas Valley, California readers can imagine the thick fog over that Christmas day. We get to know Henry, Elisa’s husband, right away when his aggressive and rude mannerisms show when he enters on stage. We can then also immediately feel how timid and obeying Elisa is. As the story goes on, we learn all about the way of life for Elisa. We can see how author, John Steinbeck wants readers to feel and why he writes in Elisa’s point of view. This theme is very important because it shows how females cannot only be undermined, but ignored a lot of the time. The theme is also important because if readers do not pick up on the overall theme of how women and men and not equal they can easily miss what this story is about and see this as a pointless story. This theme is very significant to my own personal core beliefs. I think this story is very inspiring and should remind male and female readers about how the world has changed today and what is accepted. Coming from a household of all females I wasShow MoreRelatedThe Chrysanthemums By John Steinbeck Analysis935 Words   |  4 PagesIn John Steinbeck‘s short story â€Å"The Chrysanthemums † Elisa Gives off the impression that she is not satisfied with her life. She can’t put a finger on her source of discomfort, but knows that she is not quite satisfied with how her life is continuing. Elisa’s husband doesn’t give her the proper attention she is craving, so elisa turns to her only sense of compassion; her garden. Elisa uses her beloved chrysanthemums to express her inner feelings about what it’s like to truly care for something.Read MoreThe Chrysanthemums By John Steinbeck Analysis949 Words   |  4 PagesBiography John Ernst Steinbeck was born in Salinas, California, which is where the short story, â€Å"The Chrysanthemums† is set in 1902. He won the Nobel Prize in Literature and his held in high regard, but not quite as high as Faulkner and Hemingway. Steinbeck died of a heart attack in Salinas, California in 1963 (Levant). Overview Steinbeck published the short story The Chrysanthemums in 1937 and included as part of his collection The Long Valley the following year. In the story, Henry AllenRead MoreAnalysis Of John Steinbeck s The Chrysanthemums 1256 Words   |  6 PagesComparative Essay In â€Å"Chrysanthemums† john Steinbeck, the author, focuses on Elisa Allen, one of the main characters. She is presented as weak in that her daily activity consisted of tending her garden of chrysanthemums; Steinbeck focuses on how they provide insight into Elisa and how she relates to them, religiously. He implies that even though she fits a weak character, there are places in the narrative at the beginning that suggest some strong points and her longing towards the end. There areRead MoreAnalysis Of John Steinbeck s The Chrysanthemums 1532 Words   |  7 PagesJohn Steinbeck’s short story â€Å"The Chrysanthemums† shows a time when women are controlled and restrained to a traditional lifestyle. It portrays a struggle for equality that is played out through the eyes of the third person narrator. In telling the story, the narrator depicts the story through speech, actions and appearances of the main character, Elisa. Her place in the story is that in a w orld of masculinity during the times of the Great Depression and a fight to keep a bit of her happinessRead MoreAn Analysis Of John Steinbeck s The Chrysanthemums 1025 Words   |  5 PagesRichard Courtney ENG 1110 December 22, 2016 An Unsatisfied Life John Steinbeck’s â€Å"The Chrysanthemums† is a short story about a woman named Elisa and her unhappiness with her life. She is a woman living in a man’s world in the late 1930’s. Elisa and her husband, Henry, are childless. She is confined to a lonely life where she cares for her husband, their farm house, and her precious chrysanthemums. Throughout the story Steinbeck indicates Elisa’s struggle as a woman who wants more out of her lifeRead MoreSymbolism in The Chrysanthemums by John Steinbeck Essay1547 Words   |  7 PagesSymbolism in The Chrysanthemums by John Steinbeck The Chrysanthemums, one of John Steinbecks masterpieces, describes a lonely farmers wife, Elisa Allen. Elisa Allens physical appearance is very mannish yet still allows a hint of a feminine side to peek through. John Steinbeck brings symbolism into play to represent Elisa Allens frustrations and hidden passions. Isolation is another representation through symbolism found in The Chrysanthemums. Elisas failing detached marriage is representedRead MoreThe Chrysanthemums By John Steinbeck982 Words   |  4 Pagesâ€Å"The Chrysanthemums† is a short story written by John Steinbeck. The story was originally published in 1937 before later being released as a part of his The Long Valley collection. This is an important story as it expresses women in a way that is more realistic, showing their true boredom, ambition, and capabilities. Some scholars interpreted this story differently, but C. Kenneth Pellow interprets it as â€Å"radically feministic.† The Great Depression was fi nally ending and women’s rights were risingRead MoreEssay on Analysis of The Chrysanthemums1139 Words   |  5 PagesAnalysis of The Chrysanthemums The short story The Chrysanthemums gives insight into the life of its author. John Steinbeck was born on February 27, 1902, in Salinas, California. The locale of the story is of key resemblance to the Salinas in which Steinbeck was born and bread. Salinas was a typical American small town, [differing] only in location and a few distinctive features (McCarthy 3). The protagonist of this story, Elisa Allen, also resembles Steinbecks first wife. SteinbeckRead MoreCharacter Analysis the Chrysanthemums1220 Words   |  5 PagesEngl. 1302 April 15, 2013 Paper 1 Character Analysis â€Å"The Chrysanthemums† by John Steinbeck John Steinbeck was born in 1902 and lived during what is said to be the most troubled time in American history. Steinbeck was alive during the Dust Bowl paired with the Great Depression, which is believed to be the reason for his almost melancholiac tone in some of his works but he seemed a very diverse writer. Along with â€Å"The Chrysanthemums†, Steinbeck is the author of the well-known and famous novelRead More The Chrysanthemums Essay1649 Words   |  7 PagesJohn Steinbeck’s, The Chrysanthemums, was published in 1938 in a book of short stories, entitled The Long Valley. The Chrysanthemums has been a rather powerful draw for scholars because of its wide gap for interpretations and analysis of its main protagonist character, Elisa Allen and also the unique descriptions used to portray the deeper meaning behind the setting of the story. Themes of sexuality, oppression of women, as well as other numerous types of conflict portrayed in this rather somber

Simulation Free Essays

string(57) " the profit before tax or 1 5 percent times the revenue\." SLIP is a privately held investment corporation founded in 1961. It had become a diversified company consisting of a total of 9 subsidiaries. The oldest three were In the home products business: a Virginia-based brass software company, an outdoor lantern company based In Maine, and an antique reproduction furniture company in Maryland. We will write a custom essay sample on Simulation or any similar topic only for you Order Now A second group of four subsidiaries formed in the sass’s was focused on research in the fields of consumer product marketing, computer software, tax research, and investment financial analysis. Hoping to capitalize on their tax and investment expertise, they recently armed Spring Lane Development Corporation and Spring Lane Natural Resources, which were Involved In real estate development natural resource exploration, respectively. Spring Lane employed a total of 525 people and had revenues of $30 million in 1987. Spring Lane Natural Resources was formed to pursue natural resource exploration because SLIP management felt that favorable tax laws provided them opportunities to achieve significant profits In this arena. Their primary goal was to find and produce natural gas from shale, to capture the so-called â€Å"Section 29† tax credits associated with such gas. Ingress passed this tax credit In 1978 as part of the Natural Gas Policy Act in order to stimulate drilling for natural gas found in shale. Although natural gas exploration was clearly riskier than their other investments, SLIP felt the risks could be managed by drilling only sites that were surrounded on three or four sides by existing wells. To date, SLUR had drilled four wells. It wasn’t difficult operationally to drill the wells, but It was challenging to find enough high- quality investment opportunities. In the first five months of production, one of the wells had already paid back 52 percent of its initial investment well ahead of the argue payout. The other wells were also doing quite well and all were on schedule for meeting their target return on investment. SLUR hopes to drill 20 more wells in 1988. Formed. This gave SLUR full responsibility for choosing the sites and managing the well if gas was found. SLUR would retain about 25 percent ownership and sell the rest to several general partners. As managing general partner, SLUR was responsible for hiring a general contractor who would do the drilling. Slur’s geologist, Brad Thomas, would determine whether there was enough gas to make it worth completing the well. If he decided to go ahead, the general contractor would be in charge of the day-to-day operations of the well. SLUR had entered into a Joint venture with Excel Energy of Bridgeport, West Virginia, in which it was agreed that Excel would act as the general contractor for all of Slur’s wells in West Virginia. Excel also agreed to take a small ownership interest in each of these wells. The Bailey Prospect: Base Case Analysis Exhibit 1 is a copy of the spreadsheet developed by Lisa Weatherboard to analyze the Bailey Prospect. The Bailey Prospect is surrounded by four producing wells from the target gas formation. Thus, SLUR was pretty confident that they would hit the gas formation, but they were mindful that there is always a possibility that due to geological anomalies (e. G. , drilling into a fault), a well might fail and result in zero production. Brad Thomas (the geologist) estimated the probability of this kind of failure at the Bailey Prospect to be about 10 percent. If they were successful, SLUR would sell the gas to pipeline distributors who would pay a price for the gas that depends on the BTU content of the gas. [2] The BTU content of the gas would not be known until the well was producing, but once reducing, the BTU content would not change over the lifetime of the well. Brad Thomas estimated the BTU content of the gas to be 55 BTU per cubic foot; this was the average of the BTU contents at the nearby wells. The current price paid by the pipeline is $1. 90 per AMBIT (million BTU); the price paid by the pipeline would be tied to the market prices for gas and, hence, might change over time. 3] Lisa assumed that prices would grow with inflation over time. [4] The rate at which gas would flow from the well would not be known until the well was completed. Brad estimated that the gas would initially flow at a rate of 33,000 Mac thousand cubic feet) per year and then decline following the schedule shown in Exhibit 1. The spreadsheet shown in Exhibi t 1 is essentially an income statement over the life of the well. (The spreadsheet goes out 25 years; only the first 13 years are shown in the exhibit. ) The gross revenue is the price per Mac of gas times the Mac of gas produced in a given year. To get to net cash flows, royalties, expenses, and taxes must be deducted: 1) From gross revenue, a 12. 5 percent royalty payment to the owner of the mineral rights is deducted, leaving net revenue. This royalty rate was the standard argental pall to ten property owners In ten west Valhalla area. 2) Excel Energy would be paid approximately $300 per month to operate the well. Lisa had budgeted an additional $3,000 per year for other expenses associated with the lease that might be incurred but couldn’t now be accurately forecast. These costs were increased annually to reflect inflation. 3) Local taxes of 4. Percent times the gross revenue would be paid to the county and a severance tax[5] of 3. 4 percent would be paid to the state of West Virginia. 4) Depreciation expense for year O equaled the intangible drilling cost[6], which as 72. 5 percent times the total well cost. The remainder of the drilling cost would be depreciated on a straight-line basis over seven years. 5) To co mpute profit after tax, depletion[7], and state and federal income taxes were subtracted from profit before tax. Numerically, depletion was the smaller of 50 percent times the profit before tax or 1 5 percent times the revenue. You read "Simulation" in category "Papers" ) The state income tax equaled the tax rate multiplied by the difference between profit before tax and depletion. This tax was then reduced by a credit equal to one- half of the severance tax paid to the state. ) Federal income tax was calculated by multiplying the tax rate times the profit before tax less depletion and state tax paid. The federal tax was then reduced by an energy tax credit as allowed in Section 29 of the tax code: the tax credit was determined by multiplying the current tax credit rate ($0. 76 per AMBIT in year 1) by the amount of qualifying production that year. The tax credit rate was increased each year with inflation, but its future value was in the hands of Congress and far from certain. The after-tax cash flow is given by adding back depreciation and depletion to the after-tax profit. Finally, there is the issue of the lease bonus. A lease bonus is a cash payment or bonus paid too landowner in exchange for the drilling and mineral rights. The proposed drilling area at the Bailey Prospect lies on a farm where the owners Mr.. And Mrs.. Bryan Cotter had been reluctant to allow drilling on their land; this is why the surrounding areas were developed and this property was not. Mr.. Cotter had recently passed away and Mrs.. Cotter (at the urging of her children) was now willing to allow drilling and production on her land. Though no offer had yet been made, SLUR had proposed offering Mrs.. Cotter a bonus of $40,000; the lease bonuses for similar properties in the area had been in this range. Financially, if the well is successful, the lease bonus comes directly off the bottom line, providing no tax deductions or depreciation. [8] on ten Dad’s AT tense mummers, ten prospect looked good It NAS an rater-tax equity payback period of about 35 months and an internal rate of return of about 29%. To calculate the net present value (NP), Lisa discounted the cash flows using a discount rate of 15 percent, which was Slice’s hurdle rate for projects like this. The result was an NP of approximately $79,000. Your Assignment Your boss, Steve Bodily, had presented the results of Alias’s analysis to Henry Oysters, a potential general partner. Oysters was impressed with the base-case scenario, but was very concerned about the potential downside risks. â€Å"What if the well doesn’t work? How do you know that it will produce that much gas? What if gas prices continue their recent decline? Just about every number in here is a guess. † Bodily was prepared for the first question and knew that, if the well failed, the pretax loss would be approximately $170,000 the cost of drilling the well plus the lease bonus or a net after-tax loss of Bodily was not prepared for the other questions but promised Oysters that he would get back to him with a complete description of the risks associated with the Bailey Prospect. The goal wasn’t Just to evaluate the Bailey Prospect but, more generally, to get a better understanding of the risks associated with the kinds of investments SLUR was pursuing. Since Lisa Weatherboard is out of town, Bodily came to you and asked you to examine the risks associated with the Bailey Prospect. Your report will go to SLIP as well as to Oysters. In your conversation with Bodily, he posed the following questions: ) What are the key risks here? 2) What is the project’s expected NP taking into account all of these risks? 3) How risky is this project? What is the chance that we have a negative NP on this? 4) How big lease bonus can we afford? Not that I plan to offer Mrs.. Cotter more than $40,000, but it would be good to know how far we can go and still make money. ) What if the Section 29 credit goes away? Congress has been making some noise about that lately. 6) What if the well fails? While we’ve got the crew out there, should we drill another well? 7) Finally, I know that you don’t have time to run numbers for our whole portfolio f properties, but suppose we had 20 opportunities Just like the Bailey Prospect, how risky would this portfolio be? Which would the key uncertainties be? A qualitative discussion will suffice: we don’t need hard numbers on this, but we should be prepared Tort ten question. Bodily concluded, â€Å"Those are the kinds of things that come to mind. Of course, I haven’t had much time to think about it and could be missing some important issues. I’ve scheduled a meeting with Oysters and some of the SLIP partners for next Thursday. Could you prepare a 20-minute presentation on this for then? Good. Thanks. I’ll be out of town until then. If you have any questions about doing these kinds of analyses, you might try Jack Grayson. He’s done a lot of these risk analyses and will be at the meeting on Thursday. You might want to talk to Brad Thomas as well. Additional Information Fortunately, Brad Thomas (the geologist) was available and offered to help. As far as drilling another well in the event the first one fails, Thomas said, â€Å"Yeah, that might be a good idea. A second well would be cheaper to drill. Of course, it would also be less likely to succeed. If the second one fails too, it would be pointless to drill a third ell. â₠¬  He estimated the cost of drilling the second well to be roughly 75% of the cost of drilling the first well â€Å"you don’t have to truck all the drilling equipment out again and you don’t have to pay another lease bonus. The cost of completing a second well (if successful) would be the same as the cost of completing the first. Thomas estimated the probability of the second well succeeding (given that the first fails) to be . 50. He also indicated that, if the first well fails, he would revise his estimated initial flow rate down by a third. The decline rate would remain the same. Thomas also indicated that it would not make sense to drill a second well if the first is successful since the two wells would be draining the same area. A second well would speed production you’d get roughly twice as much production at first but you probably double the decline rate as well and end up with about the same total amount of gas (maybe slightly more) and be stuck with t wice the drilling cost. † On the other issues Thomas said, â€Å"Yeah, this business is pretty much a crap shoot. I’m a geologist. I can’t tell you much about Congress or natural gas prices, but I did work up some ranges on the estimates I gave Lisa. See Exhibit 2. ) I’ve found that I give better estimates if I think about the ranges before I give a particular value. I actually keep track of my estimates and then later see how I did. While I don’t always get the right answer, my ranges are pretty good. † These ranges, Thomas says, can be interpreted as 10th and 90th percentiles numbers such that there is a I-in-10 chance that the true value will be below and above these amounts. The base case numbers used in Alias’s spreadsheet can be interpreted as 50th percentiles or medians. â€Å"Let me know if you need anything else. † Jack Grayson at SLIP could only offer general advice. As far as developing ranges for the other uncertainties, use your Judgment. I can send you some historical data on inflation and natural gas prices (see Exhibit 3), but looking forward we’ll have to guess. If it is important, I may be able to get you more information next week. I know a consultant won may De addle to Nell us Walt ten gas price Toreros t. He could probably get us more on inflation too. I also know a lawyer in D. C. Who has been working with the IRS on Section 29 issues. She might be able to tell us more about that. But I don’t want to call these people unless it is important. Let’s talk on Monday ND we can decide then whether to call them. † Grayson also suggested that you should be careful about the discount rate. â€Å"The 15 percent rate that Lisa used is risk adjusted – it informally adjusts for the possibility that the well fails, uncertainty about operating costs, etc. Since you are going to explicitly model these risks, you should use a lower discount rate. Because all of these risks with this investment – including natural gas prices – are pretty much uncorrelated with the market as a whole, I would suggest using a risk-free discount rate. The yield of 5- to 10-year treasury bonds is currently around 9 percent why onto you use that rate instead. See you on Monday. † [pick] [pick] *Note: The production decline rates – shown near the top of the spreadsheet – are highly correlated. If you have rapid decline in the first year, you are likely to have rapid decline in subsequent years as well. Similarly, if you have slow decline in the first year, you are likely to have slow decline in subsequent years. To capture this dependence, we need to vary all of the decline rates together. How to cite Simulation, Papers

My Dream School free essay sample

Third Period: Board Games: This class will give students the strategic part of their day. In the Board Games Class, students will attempt to think two steps ahead of their opponents while playing either chess or scrabble. This class is an elective. Fourth Period: Wilderness Survival: Students will be taught great life lessons from this class. They will be able to survive in any wilderness for a minimum of one week. They will be taught how to ration, keep sane, and proper survival technique. Fifth and Sixth Period: During fifth and sixth period, students will have an assembly every day. In these assemblVs, students will listen to people whose lives have been perfect without a legitimate education. If you register your child now. your child and the rest of your family will get a chance to fly to Nelson Mandelas home and have a conversation with him about his childhood. We will write a custom essay sample on My Dream School or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Seventh Period: And finally, the class that you have been waltlng for. Since our school Is named Ameer Alls school for Kids who cant Read Good, we do not offer English courses; that does not mean we cannot offer Mathematics, Science or History. Throughout the eek, students must take these three classes once per week. My Dream School By ameerali1999 Ameer Alis School For Kids Who Cant Read Good Hello and welcome to Ameer Alis School For Kids Who Cant Read Good! Our wonderful little school is specialized in non-educational subjects, so that students Ameer Alis School for Kids Who Cant Read Good admits only sixty students per year. Sleeping or Cooking. Sleeping: We know some people arent morning people, so for this reason, we offer a sleeping course. Cooking: Students underestimate the power f a hearty breakfast

I am, who i am and proud free essay sample

You know how they say â€Å"when you’re a teenager, you really find out who you are†. I believe that statement 100 percent. While most of my peers are still trying to find out who they are, I know who I am. I am Andrew Colby Delatos, a stylish, fun, honorable friend and comedian. Someone who lives a drama filled, depressed at times, hypocritical life, on the edge with the word risky never being a roadblock for me. An animal lover, different in every way, while spending most of my day in my head thinking. I know what I want and I always go after it with no delay. I have a love for my family that will burn forever. I am a big dreamer, who appreciates the small parts of a bigger picture, but the one thing that I am most proud of in every way, that makes me happy and full of pride, is that I am GAY. We will write a custom essay sample on I am, who i am and proud or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Many people do not know what it is like to live the life of a gay. The constant judgment, the struggle with coming to terms with oneself, the social out casting. I would have to say that I have been pretty lucky, having not to deal with most of the imperfections with being gay brings. I have a lot of great friends, widely popular, and a very supported and open minded family. I feel if you always have these things, you will never need anything. Ever since I was a small boy, I knew I was different I knew I like sports, power rangers and playing with my friends. So these weird feelings and thoughts, I left at the back of my head, not understanding what it meant. It wasn’t until middle school, when I found out what these feelings were called being gay. So throughout those awkward three years, I hid this fact from myself, shooting it down if it ever tried to reach the surface. I kept telling myself â€Å"Andrew this is wrong† but really I was just looking at it from societies stand point but in reality it was perfectly normal and accepted. Something I would not learn until high school. The start of high school, I knew in my hearts of hearts things were going to be different for me personally because I started to notice things in a different light. First off there were other gays in the school, which made me feel like wow this is perfectly normal to be who you are, and be proud of it. It seemed that everyone was perfectly fine with gays(well most of them), they were totally accepted which made me feel comfortable. They still poked fun at them but they did it to be rude. The best thing about being openly gay was that people started to see me for me. It was like I could stop being this fake person and be the real me. It was so much better than being accepted. I feel the problem with today’s society is that they are so wrapped up in judging people by the outside. When really they don’t look deeper to find the real person. I am a human being and nothing else, I may be a little crazy, but all those qualities on page one are who I am. Being gay is one of my favorite qualities that makes me, me. This will be a difficult life but it is my life.