Some of the figures I have for 3P reserves are:
BG Group / QGC 67c.
Shell / Arrow 66c.
QGC / Sunshine 74c.
Santos / HGO (ESG) 74c.
At 66c, we have 2542 * 66c = $1.667b or $4.95 per share.
There is a potential for more conventional gas, and the oil shale beneath the coal seams. At current price, MEL is a steal.
enterprise valuation, page-2
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