RE:RE:RE:RE:RE:RE:RE:RE:RE:Seismic survey soon to start...The analyst sees the same data as you do, and writes up a report based on Sproule's estimate. Before RECO started drilling well #1, no one had a concrete idea what to expect, at least as far as flow rates, permeability, porosity etc are concerned. He has given you a whole table on valuation based on barrels in the ground.
I think he has done a reasonably good job. It is good to be skeptical, but cynicism won't get you anywhere.