The yearly report tells us that NAV was at C$50.5 million by end of April. This does not include Ensign (C$14.5 million internal estimate), and only a small part of Teepee Creek is represented in the probable reserves, as Peter Bolton told me by eMail today.
So, all successful drillings since then have further increased NAV. Remember that the flagships 14-3 and 6-10 which tested over 1500 boe/d are being tied in these days. "The Corporation anticipates completion of the Teepee Creek facility by the end of August with tie-in of the 14-3 and 6-10 wells in early September. The 16-34 and 3-11 wells are expected to be tied in by mid-October. "
I wouldn't be surprised if we were at NAV C$75 million today and end up above C$100 million in the next reserve report (as of December 2006).
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