Summary of BRK, page-419

@Lulu12 Sorry couldnt seem to quote and post

To be honest i havent done a 5 year prediction. If you want me to put a stake in the sand I would go for $50m-$100m, i.e, probably less than now. Why? Basically because the value extracted from production I expect to be distributed to shareholders via share buybacks or dividends and i have no idea how to value these at this stage

I haven't projected any values into the future as i dont have comfort over the decline curves so am waiting of further results from Jewell to better understand. My view on value is around $200m-$250m based on prior M&A transactions on current reserves. I am basically using this as my base for valuation, and using a highly technical "finger in the air" methodology am probably comfortable with anyone throwing around numbers up to around $500m and then uncomfortable after that. My uncomfort with anything higher than $500m is that we only have a c.20 well program

I am hoping the final reserves numbers will be higher than the 11.x million than are currently being reportedI would also note that my preference is to drill drill drill, rather than sell off reserves as I believe that will provide a higher overall return. In saying that I will trust in DP and team to provide the best return for shareholders.

I have posted Jewell production by month so far. My methodology for valuation will be take that production (circa double it, due to WI) and then offset by 3 months for each well. You can then get a real rough guide on what overall production will be. Noting i dont really have enough information to extend this much into the future.
As with anything you will have get get your own comfort over numbers, and not sure any modelling is ever correct... and never take financial advise from a muppet