Bridge Resources Corp V.BUK

Mackie target $1.05

[SCORPION17]

eom

[StockBadBoy]

Any chance of posting some of their assumptions around the $1.05 target price.

[SCORPION17]

RECOMMENDATION – Maintain BUY on Crystal’s PotentialThe high rate test of the M.L. well proves that the Crystal play (50% W.I.)in Idaho is highly economic. We believe the 5-well exploration programcould add substantial reserves and production in 2010. We maintain ourBUY recommendation and we have increased our target price from .70to $1.05, equivalent to our new risked NAV.VALUATION CATALYSTS

[StockBadBoy]

Scorpion. Thanks. This is about what I would think also in terms of the assumptions and value behind this play. Bottom line, I would hope the institutions financing this are looking for 3 to 5 times money. With more successful drilling and starting production, these will undoubtedly add value to the investment.