enterprise valuation, page-5

Sath,

I don't necessarily disagree. As a guide, I would be using a 3p valuation band of 5-15c/3p.

This reflects the current reality of uncertainty in legislation, low value of Metgasco resource and "remote" location.

Some might call this down ramping, but I like to think I am just being realistic.

MEL has a substantial market in Brisbane that a South Auatralian company supplies a lot of gas to. That to me appears the best chance of commercialisation, and until this option firms up, the valuation for MEL will stay on the floor.

:)

SF