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Ann: Lockyer Deep-1 Gas Discovery Exceeds Pre-Drill Expectations, page-119

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Sk1nman

4,959 Posts.

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22/09/21

13:59

Post #: 56266089
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Originally posted by bigchin: ↑

Looking at some very simple valuations against Warrego and Strike and you see how undervalued NWE is with this discovery. Simply taking market cap / 2C contingent resource shows value per Bcf gas. I have compared Strike with their own 2C number of 1.182Tcf and Warrego's published number of 513 bcf for West Erregulla.
I assume 1.2TCF for Lockyer Deepwhich is just above their pre-drill high side. could be much higher by today's report.
All 3 companies are essentially holding a single discovery in the same basin so comparison is fair. STX urea idea has no value IMO until they can secure the gas and right now they don't have enough. They could pay premium $$'s for NWE gas though.

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We have 6 billion SOI fully diluted....@ 3c PS our MC is $180M not $115M

@$180M MC = $1,333,000 per Bcf which put us above WGO and STX Warrego 2C)

Sorry to state the facts. Its still great news so please don't shoot me down for being honest.

Last edited by Sk1nman: 22/09/21

NWE Price at posting: 2.9¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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