RE:Another point: Sparton holds a natural gas - Today: new high https://www.24hgold.com/english/news-company-gold-silver-receives-notice-from-exxonmobil-of-initial-development-study-program-for-chebucto-natural-gas-field.aspx?articleid=469758
VALUATION TO SPARTON
The Company has reported several valuations of its Chebucto interest. The initial evaluation, with an effective date of August 1, 2003, was prepared for the Company by APA Petroleum Engineering Inc. (APA), petroleum engineering consultants of Calgary Alberta. APA has extensive engineering and evaluation experience in the Canadian East Coast and on other projects world-wide. Subsequent updates were prepared by the same organization with the latest being May 11, 2005, (See Sparton news release dated September 4, 2003, Long Form Prospectus dated February 27, 2004, and news release dated June 2, 2005). All these documents are available on www.sedar.com. Based on a review of all available technical data APA reported that Sparton?s estimated unitized 6% share of the Chebucto gas accumulation amounts to approximately 20 Bscf (billion standard cubic feet) in proven and probable categories. Using then current gas prices and a 10% discount rate with a 2010 production startup, and a 20 year production life APA, in 2005 calculated a net present value to Sparton before tax of approximately $27 million. This valuation will be updated to reflect current conditions and reported to shareholders when available.