Mad
Aton say that Russian 2P reserves are currently valued at $4-6 pb. Lets face it, Russia is bottom of the league of desirable oil assets, due to a rogue government forever moving the goalposts, massive infrastructure investment requirements for most of it's area's and a 97 % tax regime above $27 per barrel.
2 sales of assets in Kazakhstan also have commanded approx. $7.5 pb and Paladin plc reserves commanded approx. $15 pb of 'Proven' and that proven was bolstered by an allowance of 2P being guestimated (by mutual consent) and eventually included in the 'proven' assessment.
FWIW I'd say that valuing Syrian 2P assets at $5 pb is entirely reasonable by comparison (provided they are producing assets of course).
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