conservative report - upside to quoted valuation Had a look at...

conservative report - upside to quoted valuation Had a look at the report, and I think it is a little on the conservative side.

For example the analysis on Sledge-Hamar in particular.

Bearing in mind that this is a 90% probability the project is worth more that 3.4 mn net to OPL. If you utilise the $20mn figure quoted in the text rather than the table this adds a further 20c to the valuation. However, bear in mind that this valuation (1) seems to exclude Olig Potter potential and (2) is based on US$6/bbl. I would say US$10/bbl is more indicative of California pricing and is a robust number in light of current commodity price levels.

Therefore, you can currently buy OPL below NAV and enjoy all the upside thrown in for free.