CRP Value

[petrengr1]

Indicated CRP value based on the three latest certification numbers:

GCA 2016   6.8 TCFe  (6.8 - 6.2) x $7.07/TCFe=$4.24/sh or stock price of $49.24/sh

NSAI 2016   6.06 TCFe (6.08 – 6.2) = less than zero ...For our purposes $0/sh or stock price of $45/sh

GLJ 2016    7.8 TCFe (7.8 - 6.2) x  $7.07/TCFe = $11.31/sh  or stock price of $56.31/sh

Average of the three most recent certification numbers: 6.89TCFe   (6.89 –6.2) x $7.07 = $4.88/sh or a stock price of $49.88.

The stock is trading at ($48.02) less than all of these estimates except NSAI.

For what it is worth!!!

Hi Pet

Could they still be drilling A7?

Yes, they could still be drilling but I think there is no hope of finding the Antelope pay zone. They will only be drilling to look for a deeper prospect (Antelope Deep) or drilling a sidetrack to the East to try to get back into the Antelope Field.