yakal and tindalo in sc54, page-17

Hi Strat and Ya

Here's my model. Its a work in progress and I post it to generate some discussion.

Normally I don't include exploration in a company valuation but given the size of Nido's permit holdings, the extensive seismic acquisition, interpretation and portfolio I had to come up with something. Note that I have not included the SC 54 shallow water plays at this time. Any ideas?

Apart from the cash balance and reserves this kind of work is highly subjective and I've included some of the significant assumptions. The usual caveats apply.

Regards,

opt