"In light of the resource upgrade, Westhouse is updating its target price of Jupiter to A22.6. This is based on Westhouse's existing estimated value of oil in the ground of $12.43 per barrel, which it arrived at by using a standard discounted cash flow."
I agree with the analyst in his/her valuing the reserves at circa $1 billion in the ground and then using discounted cash flow analysis to arive at a 2010 valuation based on those reserves. It's conservative and I like that.
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