We assisted our Client in developing a purchase offer for a production license in western Siberia. The license contained a number of producing fields, newly discovered fields and prospective resources. We reviewed the available technical data to establish an independent view of resources in accordance with PRMS standards. We established 1P and 2P reserves, contingent and prospective resources for each property in the license area. We also evaluated potential production from the fields establishing profiles and costs required to develop the fields. An asset valuation of the license was conducted using Discounted Cash Flow and Fair Market valuation methods. The ultimate product of the work was the establishment of a recommended purchase price for farming into the property.