Valiant exploration propects should be just upside Analysts are giving zero valuation to the five Valiant exploration and appraisal wells as far as I know. The results should not be impacting the share price if negative but certainly impact if successful particularly Handcross and Storvarden. Handcross in particular has the ability to add $1.50 to the NAV and Storvarden over $1.00. But the purchase price Ithaca paid did not have one ounce of valuation based on these wells. They should be seen by the market as upside and not dowside catalysts. However, If these two in particular are successful, the share price will go up by $2 for absolute sure all things being equal. However, I for one am not counting on their sucess at all as all one does is set themselves up for disappointment (notwithstanding....way back in my mind I am cheering them on as the company has not had one break given to it at all....not one!)