excellent quarterly activity report, page-38

Good Morning recoop
I agree a brokers report is simply background info however I think the Euroz valuation is very fair and reasonable. They have come up with 51 cents for current reserves and cash, I come up with 51.5 using 30 NPV per barrel, from this point one can easily find another 21-22 cents in exploration value

This is how I would divide the remaining 22 cents
CB basin permits 5-6 cents
Tunisia 11-14
Indonesia 5-6

I become even more comfortable with the Euroz valuation when i think that a few million in the last two quarters has been spend on seismic acquisition and interpretation, infrastructure, and development studies. these all create value to the portfolio of production and exploration assets. Having said all this its clear Euroz is a paid supporter on the stock so I wouldn't be buying and selling simply on their advice