Junex

Welcome To The Junex HUB On AGORACOM Exploration of oil and gas in Quebec

over 16 years ago

about 16 years ago

about 16 years ago

about 16 years ago

in response to JBO's message

	Junex - Target Price Calculations

Data from May 2008 Junex Presentation

	From Slides 17 and 18

	At 70% prospectibility Barnett Type - Utica Shales

	(Junex @ 15%)	519.4	Bcf
	Outside JV	3010.0	Bcf

	Total Bcf	3529.4	Bcf

	Lorraine Shales
	Assuming same potential	3529.4	Bcf

	Total	7058.8	Bcf
	50% land utilization factor	0.5
	Net Gas	3529.4	Bcf

	Using $0.5 per MCF

	Total Net Asset Value =			1,764,700,000

	Fully diluted Shares = 59.6 Million			63,200,000

	Net asset Value per Share			$27.92

	Probabilities:

	Horizontal Fracture Stimulation			0.9

	Risked Target Share Price			$25.13