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eik

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Alias Born 10/24/2005

eik

Re: WENDEL1 post# 861

Wednesday, 03/28/2007 8:47:05 PM

Wednesday, March 28, 2007 8:47:05 PM

Post# of 5803
IMO. For some buyers (like Stroytransgaz) NWOG is interesting mostly by it’s ME contracts (remember, Syria contract is still under the threat to be handled to Kuwait’s Noor). Others (like Lukoil) could be interested in oil producing assets as well, especially if public NWOG gets its share in SNG. I think “only parent buyout” is more probable scenario. For NWOG Inc. it would mean just a switch of major shareholder (which still could be good for us). As to the possible price for NWOG Inc… that’s what we need audit for. :) The main numbers to look at – revenue and net income. Enterprise value is usually used for this kind of estimates. I think it’s in $0.2 - 0.3 range now, but we don’t really know until AF is posted. Watching how NWOG is negotiating price for SNG and doesn’t want to pay an extra dollar, I am thinking about our future buyer… it could be as greedy as we are. :)

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