Beat me to it KiwiTrev!
I guess key line in their report is ' Applying historic 2P transaction multiples (which are becoming increasingly relevant, in
our view) to a 500PJ booking yields $925mn or $4.80ps' - which to me implies they are only valuing the project as gas in ground (2P)
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- Ann: Glenaras Gas Project - Pilot Production Update
Ann: Glenaras Gas Project - Pilot Production Update, page-8
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3 | 365000 | 0.012 |
2 | 1200000 | 0.011 |
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Price($) | Vol. | No. |
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0.014 | 119610 | 2 |
0.015 | 400000 | 1 |
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