FPSO'S

[MikeDDKing]

Hank, re: SEVAN.ol....

I've been doing some DD on SEVAN and think it is a very interesting company. As you have pointed out it seems as if there is strong demand for their business. Where my DD hit a roadblock is on the financial side. Have you seen any information that indicates the following:

1. Day rates that they can charge for their FPSO's.
2. Cost per day to operate the FPSO.
3. Analyst estimates for future earnings.

I think they have an excellent business but I have a hard time determining what the business should be worth now and in the future. As you can probably see from my questions I am trying to ascertain valuation info to assess a possible investment. Any answers you might have to the questions above or other insight would be greatly appreciated. Possibly a comparison to a more established FPSO company would do the trick.

Mike