RE:Statistical Estimates of Net Asset Value My apologies for errors in my estimates of reserves NAV
Assumptions in which the reserve Report is based..
The capital cost and operating expense inflation rate is 0% per year in 2022 and 2.0% per year starting in 2023.
This will clearly not be the case as inflation is now above 8%.
Delete $0.75 per barrel from my estimate Of $28.4 m .
I forgot to include future undiscounted development costs of $10.2 million for proved plus probable reserves .
This reduces the forecast 2P reserves to about $17.50 million or about $0.35 per share.
So residual value after the $0.40 dividend will be reduced to about $0.60 per share
Sorry..