sdl valuation, page-7

Thanks bigstar...really impressive

i have one question:

Corporate Structure
-Cameroon Gov = 25%
-SDL stake = 67.5%

why is SDL's stake 67.5%?

it seems that SDL is fair valued at around 15-16c atm if people believe they will only have 50% of the project...assuming SDL will sell 10-20% of the project as part of the funding package?