I would probably use a higher interest rate which would lower the NPV. But I would consider this more a 1P NPV. Companies would normally be valued on a 2P reserves audit. This would likely result in a much higher number than you put forward. Any blue sky such as helium only adds to this.
Do not get me wrong, I think what you put forward helps us with a nice price target to chase.
Ann: Mereenie Update, page-9
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