intersuisse analyst report, page-2

very clear explanation on the restructuring but very conservative indeed.

I just went through the MHA report again that was released earlier on this year and it seems the 1C, 2C and 3C numbers only relate to a small part of the Lorraine blocks so there is no value associated with the Foschviller area where drilling activity previously happened nor to the Lons le Saunier, Gardanne, Italy and Benelux areas.

I remember contingent resources or GIP numbers associated with Gardanne. It is not even discussed in the report...

Anyway, it is good to have an independent sell side reports that set a very conservative value at 68c so 70% upside from last traded price!!!