The interviewee did not forecast the outcome of the estimate.
Dresdner Kleinwort Wasserstein, which assessed the worth of Yuganskneftegaz within the framework of an agreement with the Russian Justice Ministry, estimated YUKOS' main production enterprise at $14.7 - 17.3 billion taking into account the tax claims.
The conclusion classified "strictly confidential" was published by the bank, after the Justice Ministry had reported that Yuganskneftegaz was estimated at $10.4 billion and would be sold with a 60% discount from this price.
The bank's report says that the estimate of Yuganskneftegaz' worth under the scenario of adjusted reserves assessment as of late 2003 is $14.3 billion and represents an excessively conservative assessment scenario.
After withholding YUKOS' back-taxes (approximately $2.9 billion) and entry into force of assumed tax claims to Yuganskneftegaz itself in the amount of $951.3 million, the company's price may be reduced to $10.4 billion.
The price of Yuganskneftegaz as a separate enterprise, in the bank's opinion, ranges from $18.6 billion to $21.1 billion.
The bank made an assumption that the situation in terms of licensing Yuganskneftegaz would remain the same. "A change in Yuganskneftegaz' situation with regard to licensing may greatly affect the company's worth", reads the report.
