rig moving to fermat, page-22

Strachans 30c/mcf would be the Net Present Value (not sale price), ie, after paying for drilling, development, production expenses, royalties, depreciation/amortisation, marketing, corporate overheads, and tax.

Actually, his estimates usually err on the bullish side and that valuation was done before the collapse of the energy sector.

I'm not saying EPR is overvalued or undervalued atm, just dont like the current uncertainty of funding and not knowing their eventual percentage interest.

Main interest as a non holder is to watch how EPR handle their funding and newsflow to shareholders