Our risked DCF/EMV valuation of NEN is unchanged at $0.62/share....

Our risked DCF/EMV valuation of NEN is unchanged at $0.62/share. This valuation is
based on the mid case resource estimates independently provided by Netherland
Sewell and Associates (NSA) and Bell Potter risking assumptions of 10% for Block 120
and 20% for Block 105. The unrisked success case for either prospect is around
$1/share, using in ground values of $5/barrel or $0.50/mcf. If we used NSA’s “High”
estimates of the same prospects, the valuation impact could be $3/share for each.

This is from Bell Potters research team recently, hope it helps