"cooking with gas", page-3

re: ''cooking w'gas''. seems little interest> epr is a dog.....

how can you drop cpc for that stock!!!

check out the evaluations being carried out at present:

Gryphon Exploration vs CPC

WPL has acquired US-based Gryphon Exploration Company for a cash consideration of US$282.7m (US$296.9m including net debt).

In the announcement, independent consultants have estimated Gryphon's 1P reserves to be 72.5bcf of gas equivalent

** This equates to $US4.1m/1BCF including debt.

Back of the envelope valuation of CPC (only on a purely comparative basis, BBY does not know company specific details about Gryphon)

Carpenter Pacific (CPC) in their March '05 investor update said that estimated reserves in their field are 28bcf of gas equivalent

On an equivalent basis, this would value CPC at US$114.8m

Fully diluted share structure of CPC is approx 229.3m shares

**This equates to $0.67cents per share, considerably above the current 26c share price of CPC

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