We recently had an opportunity to meet with members of Valeura’s Management team, with a focus on the Company’s upcoming drilling campaign on the Banarli License (100% WI). With the imminent drilling of low-risk exploration wells targeting the shallow horizons, we are now ascribing value to the Banarli License for the first time. We do not ascribe value to the deeper targets, while the process to find a suitable farm-out partner continues.