Howdy Conix
U need to add a note in yr calcs that the valuation is based on OOIP estimates. Personally, for areas that promise a lot & havent yielded much till date, I'd b inclined to use $1 IGV not 5-10.
With $1 & 70% of that prospect, we are looking at 210 MMBbls OOIP, divide by 257m shares 0.817c unrisked & at 10% risked value, its 0.081c.
cheers
PS: I thought u were more on the lines of a paleontologist I knew frm the north shore.
Howdy ConixU need to add a note in yr calcs that the valuation...
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