The problem with CEE is the unknown factor of nationalization / amendment of lease & issues with the govt. Because of this one cannot put a realistic target because you do not know about the out come. So the lowest price would be the net asset value without Egyptian operation. So if someone is putting up a target around a $1.00 then he is fully discounting the Egyptian operation. Now based on the existing agreement with Egypt in tact & even with political turmoil in the country CEE is a $3.00 stock.
I do not think that they would get oil subsidy. Egyptian have to be stupid to do that. Even without oil subsidy CEE can do fine provided this present agreements does not change.
CEE has to diversify. It is a one trick pony with poor Ethiopian assets but lot of cash on hand. They have do better than Ethiopian assets. With the cash on hand & present commitments they have lot of cash they should use it on some acquisition. What is stopping them.