egm notes, page-21

Thanks to all posters for your guidance.

Would anybody like to comment on my back of an envelope thoughts on the value implications of RC's best case thoughts regarding 2,000 Pj.

Assume Gas Originally In Place (GOIP) = 2000 Pj

Then GOIP = 1.8 Tcf

1.8 Tcf = 1,800,000,000,000 cf

Sales unit is Mcf (approximately equal to a Gj).

Convert 1.8 Tcf to Mcf = (1,800,000,000,000cf/1,000) = 1,800,000,000 Mcf

1 Mcf = 1 Gj

Therefore GOIP = 1,800,000,000 Gj

Assume recovery factor of 30%

Recoverable gas in Gj = ([1,800,000,000/100] * 30) = 540,000,000 Gj

CTP:STO split is 30:70

CTP share of 1.8 Tcf GOIP = 162,000,000 Gj

Assume all is sales gas (compensates for waste proportion of inerts and for higher recovery for He content - or condensate content).

Assume well head value is $0-40/Gj

CTP $ share has like ly in ground value of (162,000,000 * .4) = $64,800,000

Say M $65