An NPV always has a risk factor attached to it. Using a 10% risk factor which is fairly conservative, I get and NPV of $2B. If anyone wants to send me their email address, I can send them the excel calculation for this. It was prepared by a friend of mine who works with this stuff. Has all the parameters there for you to play with and see how the NPV changes when you play with them. An excellent tool to see the value of ZEN!

G.