@Hersheys7 Valuations, whilst quantitative in nature, often...

@Hersheys7 Valuations, whilst quantitative in nature, often involve some degree of subjective input or assumptions. Given that there is only well data (albeit lacking final sidewall core results and DST data) from one well (M-2ST) and mud log data from another well (M-1ST), it is inevitable that a range of forecasts will be required to encompass the uncertainty.

An example of uncertainty is when we refer to the 2U mid-case Prospective Resources, the 2C mid-case Contingent Resources (MDT fluid samples received at surface), and the 2P Reserves estimate following a successful DST/ flow test -the latter would confirm commerciality.