EEN - Undervalued & Oversold

>Bob
I agree. But I included extra costs for production facilities/ 3D seismic ,and possibly infrastructure costs .. i.e. roads and pipelines.

IF Tigris is as big as Ryder Scott postulated it might be , then pipeline connections would be a must.

Of course every $ saved on capital cost is a $ increase in NPV as all capex is assumed before the start of production...If the capex was only $3.75M, then the base case NPV would be 11p. (which kind of makes TGM's estimates look strangely low).

You pays yer money and you makes yer choice on the assumptions:-)