Earlier in the year EEN went to £3.60 on speculation of Souedieh North #1, a much smaller prospect to Tigris.
And
Keith Morris, Oil Analyst, Evolution Brokers:
The risked value of the Tigris structure resource to EEN is 258p/share (65p probable reserves risked at 1 in 2 and 193p/share for possible and potential
resource risked at 1 in 7). THE UNRISKED POTENTIAL OF TIGRIS ALONE IS OVER 1200p (!), and the block contains another 26 prospects, which we have not included in our NAV.
What is this 27p/41.7p argument?
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