valuation

An analysis report written by arrowhead on 20/8/09
(http://www.cougarenergy.com.au/pdf/Arrowhead_BID_report_20_August_2009.pdf) which places the approximate value of the shares at 13.2c to 26.6c(current trading price is at 11c). Since this report was issued there have been 201,000,000 shares issued unexpectedly at 8.25c (previous number of shares was 671,048,999), this should result in the fair price range dropping to 12.05c to 22.4c; this would indicate that CXY is still undervalued by a large amount. I am assuming here that the information in the report is still current. Also the company has some large projects coming up that will be undertaken in the next 6-12 months that could potentially add significant value to the company if
successful.
Cougar is currently trading at around 1/10 value of LNC