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6.2 Continued - Valuation of AMA-NP

Valuation of AMA-NP based on FCF:

53.85 (1.06)

9% - 6% 1903

Valuation of Synergy 8.73 97

9%
FCF Value inclusive of
Synergy 2000

SUMMARY OF VALUATION RESULTS (assuming sell of AMA-NP without debt attached)

INCLUSIVE OF
BEORE SYNERGY SYNERGY

NET ASSET -BOOK VALUE 1403 1500

P/E Ratio - AMANGO Negative Negative

P/E Ratio - CMOC 1050 1147

DCF 1903 2000

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