valuations

Eric has previously mentioned the potential effect of US valuation metrics on Buru's valuation.

Here's a snapshot of one recent deal involving a global major player. Yes, it's our own partner Mitsubishi coughing up billions for unconventional resource acreage in Canada.

Earlier this year US based Encana announced it had cut a deal with Mitsubishi, and the Japs would pay Encana $C1.45 Billion on closing for a 40% stake in Encana's undeveloped 400,000 acre Montney tightsands gas project. In addition Mitsubishi will invest a further $C1.45B over 5 years on development.

The project has proved undeveloped reserves 0.9TCF, 2P 1.4TCF, 3P 1.6TCF, and estimated economical contigent resources of Low=6.0TCF Best Estimate 8.1TCF and High Estimate 11.7TCF.

The full article is on Encana Corporation website www.encana.com