oil flow testing eagle#1, page-9

I hold eme in the UK. As an exercise I thought i would try to see if I ws beter off investing in an Aus partner

I have used 13.8mmbls as mean recoverable and 23mmbls as max. Gas 25bcf mean, 58bcf max

oil at $60 gas at $42boe and plenty of other assumptions. Anyway

All figures US$
mean/
Company Market Cap Mean V Max V mc
Sun 19.7 46.5 115.2 2.35
FAR 30.60 70 178 2.29
VPE 41.87 93 230.4 2.22
Lakes 27.6 70 178 2.53
EME 74.6 179 443.5 2.40

I haven't used DCF or anything else. the sole purpose was to identify the best play. I haven't looked at what else each company might have, i'm only comparing Eagle.

My conclusion is that the markets are efficient as there is not a lot to choose betwen them, but I supose my money should be in Lakes

No investment advice intended