Emerald Energy Valuation

I have compiled a risked valuation of Emerald Energy, and this can be found inthe attached file.

It uses a NAV approach, assigning a $9/bbl value to EEN's WI barrels for all areas except Capella, where a more conservative $5/bbl is used, becuase the oil is heavy and sour.

This should not be construed as investment advice and you should do you own research.

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