Ann: Initial Production Rate-1,207 Boe/d - France, page-45

re: Ann: Initial Production Rate-1,207 Boe/d ... With such a small number of wells actually producing and variations of up to 400% even in the same areas, it is much to soon to take to much notice of individual wells. I think most of the wells will be producing much the same rates per length of horizontal in a year or so, and those flowing a bit slower now might hold on longer in the future. I believe this is a long time play which suits my investment scale, especially when I believe oil can only go up in the future.
When you compare the EV/BOE (market cap per boe based on C2 resources) for the five players I think AZZ is grossly undervalued. AUT used this EV/BOE in their march presentation to point out they were undervalued.

AUT 3.23

ADI 5.05

EKA 3.99

AZZ 1.11

TXN 1.14

I have to emphasize these are my figures so I may have made an error. If I have would be grateful if anybody can point them out.