Ann: Anshof Assessment confirms 5.2 Mil barrels of 2P Reserves, page-11

Oil companies do DCF valuation of projects using discount rates of 15-30%
Private equity investors in the sector will be looking at 25-35% hurdle rates.
The US SEC forces oil companies to do a 10% discounted rate valuation with flat pricing.
My point is that if you use an 8% discount rate you are not doing standard industry practice, you are being very optimistic, and with your dicount rate below current inflation you are not even factoring in the loss of future cash value due to inflation.
In any case, we all know that a 10% IRR for ADX is a pipedream - so dream on.