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Denbury Resources Inc. Message Board

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  • harehau harehau Dec 21, 2011 9:26 AM Flag

    DNR:Prisoner of Market Conditions--again!

    On Cobalt, most current values are high teens without a successful Cameia well. CIE will probably be up again today.

    t the end of 3Q, CIE had $1.62 billion of cash on hand, fully funding the exploration program through 2013. On a risked basis, this program supports an NAV of $17/sh, with substantial unrisked upside (above $40/sh) if exploration is successful over the next 2 years. We will adjust our risked NAV once the Cameia well flow tests are complete.

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