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  "documentTitle": "Palliser Capricorn Presentation October 2022",
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  "presentationDate": "2022-10-01 00:00:00",
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  "notes": "The chart highlights a significant valuation gap between the independent assessment and the proposed offer.",
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      "kind": "callout",
      "text": "NewMed's recommended offer represents a US$242 million discount to ERCE's independent assessment of Capricorn's current cash-weighted fair market value",
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      "text": "Waterfall chart showing Net Cash, Contingent Proceeds, Risked 2P+2C, G&A, Contingent Payments, and Receivables leading to Fair Market Value.",
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      "text": "Source: ERCE Fair Market Valuation Report, Bloomberg as of 25 October 2022. Note: Valuation as of 1 July 2022; 12% discount rate applied; ERCE nominal oil price deck of $96/bbl, $94/bbl, $86/bbl, $80/bbl, $82/bbl, $83/bbl, $85/bbl, $87/bbl,$88/bbl, $90/bbl (2022-2031). (1) Implied NewMed offer consideration for existing Capricorn shareholders as of 25 October 2022; after potential US$30 million payout to Capricorn management",
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      "text": "Capricorn's straightforward asset base includes a substantial net cash position, low-risk contingent receivables and a high-quality, opportunity-rich Egyptian portfolio",
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      "kind": "title",
      "text": "Capricorn's Independently Assessed Fair Market Value",
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      "evidence": "The document identifies the problems with the current deal, including its failure to meet expectations and its corporate governance shortcomings",
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