i feel like a smuck, do you?, page-51

" perhaps nursery might like to give his new ratio"

My personal opinion is;

4 EKA = 2 ADI = 1 AUT

That is based on the information available today. Tomorrow may be a different case as the relative values change on a regular basis. In my opinion they are all undervalued.

Sugarloaf EKA 6.25% ADI 10% AUT 10%+the extra area potential.

I'm often wrong so DYOR. If I had been right I would have been 100% AUT when it was on a par with ADI. We are all subject to the "shoud've" disease. The farmout arrangements have changed the picture dramatically. They have reduced the percentage interest in the project but they have added great value with the action going on. The proving of the whole area as a major oil and gas field is a major factor.