Study on the Valuation Method for Overseas Oil and Gas Extraction Based on the Modified Trinomial Tree Option Pricing Model

Table 6

A comparison between oil and gas asset value at each decision point with and without the value of decision rights (million US dollars).

Decision point	C5	C4	C3	C2	C1
With options	82.93	46.87	13.64	12.52	11.48
Without options	82.93	46.87	13.17	11.74	10.58
Cumulative value of decision rights	0	0	0.46	0.78	0.9