Ann: Alaska North Slope Presentation - November 2018, page-50

I will not involve in any arguments, and let the market to decide but I still stand on my stance for $5-10 per barrel ground of oil for onshore discovery. Also, CVN market cap is over $400m for only 30 mbbls of oil and then 88E was valued over $300m on icewine unconventional oil discovery. even at $3/barrel, RMP will worth $300m (US$) = 17x from current valuation. Let the market to value, if they hit oil; which I am confident they will. No a single well miss to find oil since 2013 (from RMP presentation). 6/6 for CP, 19/19 for Repsol/Armstrong. According to Dave Wall, 29 out 30 hit oil since 2013 using 3D.