Updated Euroz reort out todayBuy @ 60c target 85c base case...

Updated Euroz reort out today

Buy @ 60c target 85c base case $1.25 upside

They assume a 300kbboe EUR per well.  On a full field development basis of 3 wells per spacing unit this implies only 1% of the total hydrocarbons in-place would be produced.
 
They are confident that their implied 1% recovery factor can easily be eclipsed noting that other resource play reserves’ calculation apply recovery factors of at least 5%.
 
They go on to note that this will have a huge implication on maiden reserve potential when data from the first 5 wells campaign is compiled.