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The appraisal attributes undiscounted net future value to a 31% interest, of a minimum of $141 million (unescalated, and after all capital and operating costs) based upon a well head gas price of $2 per MSCF. 00 per MCF and anticipated operating expenses, the engineering report would attribute a minimum undiscounted net future value of $141 million to the 31 percent interest in the Maykop Field, which is expected to be on production for approximately 20 years. The appraisal attributes an undiscounted net future value of a minimum of USDLR 141 million to a 31 percent interest in the reserves, based upon current gas prices unescalated. |
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