interesting comments, page-9

"He values Bullseye at 64c for GGP and 5c for NEO"

Hi Moneytax. That valuation seesm a bit odd to me at first glance. I mean I'm not sure how he has gone about his valuation but I have done some very basic Maths here and come up with a slightly different answer.

If we looked at it from the point of view that GGP had approximately a 43% WI in the well and NEO had a 6.67% WI.
Now we know that NEO's share reduces to 5% with the vendor backing in and that GGP's interest will reduce as well.

Now say that GGP's interest is now 40% and NEO's is 5% or NEO has one-eigth of GGP's share.
If he says that Bullseye's value to GGP is 64 cents then one-eigth of that is 8 cents. Which is a bit higher than the 5 cents suggested.

Okay perhaps my reasoning is a little simple and I am happy if someone can point out the error of my ways but it makes some sort of sense to me.
Applying the same logic to the Cib Haz valuation to GGP and adjusting for NEO would give NEO 10 cents.
So a combimned value of around 18 cents. Much rosier.